00:00Now turning to the latest out of the Middle East, Iranian TV says it has obtained an unofficial draft
00:04of a U.S.-Iran memorandum of understanding. Joining us now is Bloomberg Washington correspondent
00:09Tyler Kendall at the White House. Tyler, it's something that excited markets this morning,
00:13that sent oil prices lower. What has been reported on this?
00:18Well, Danny, we should caution that at this point it is unclear how recent this draft is and what
00:23the U.S. has agreed to, because according to Iranian state TV, this draft memorandum of
00:28understanding would see a reopening of the Strait of Hormuz within 30 days of an agreement being
00:34finalized and the U.S. lifting its naval blockade. These are already items that we know that the two
00:39sides were working towards in what could be a phased agreement that would then kick off perhaps
00:44longer term negotiations around Iran's nuclear program. But importantly, Iranian state media
00:49is reporting that this memorandum of understanding would include Iran and Oman still having a mechanism
00:56in place to oversee shipping in the strait. We've heard earlier this week that Iran was working on
01:02some sort of navigational services fee, perhaps a rebranding of a toll mechanism, something that we
01:08know that this administration has said would be a non-starter in these negotiations. So there is a lot
01:14to work to look at here and a lot of questions that we still have, because at this point, while
01:20the
01:20White House has maintained that they are working towards a diplomatic solution, we know that there are just so
01:25many sticking points, including control over the strait, including what happens to frozen Iranian assets
01:31and ultimately what those curbs are going to look like when it comes to Iran's nuclear program and what
01:36happens, Matt and Danny, to that stockpile of already highly enriched uranium.
01:40Well, I mean, we know that this administration is willing to move the goalposts almost
01:43endlessly from the March 6th position that was no deal other than an unconditional surrender, and this is pretty far
01:52from that.
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