US-Iran memorandum sets Hormuz reopening, $300 billion reconstruction and sanctions relief

The US and Iran agreed on a 14-point memorandum to end the war, including reopening the Strait of Hormuz, a $300 billion reconstruction plan, and sanctions relief. The agreement, called the 'Islamabad Memorandum of Understanding,' will be signed in Switzerland, initiating a 60-day period for the definitive agreement.