Iran and the United States are reportedly close to finalizing a memorandum of understanding that aims to transition the current ceasefire into a more permanent resolution. This agreement could facilitate the reopening of the Strait of Hormuz, a vital shipping route, while allowing Iran to maintain control over it. President Donald Trump has indicated that the U.S. blockade on Iranian ports will remain until a formal agreement is signed. Furthermore, Iran is pressing for the immediate unfreezing of its $10 billion in overseas assets as a prerequisite for any deal. While the memorandum may include commitments regarding Iran's nuclear program, specifics on uranium stockpiles and enrichment remain contentious. Iranian officials have stated that discussions on lifting sanctions will occur only after the memorandum is finalized, despite their insistence on this issue being included in the negotiations. Additionally, the potential impact of the agreement on the conflict involving Hezbollah in Lebanon is still uncertain, with Trump affirming support for Israel's actions against threats in the region. Overall, while both parties express a desire for peace, significant hurdles remain.