TEHRAN, June 12 (Xinhua) -- Iran's semi-official Mehr News Agency reported Friday details of a draft memorandum of understanding (MoU) between Iran and the United States.

The draft agreement includes U.S. commitment to lifting sanctions on Iran, withdrawing forces from around Iran, lifting the naval blockade, reopening the Strait of Hormuz, and releasing Iran's frozen assets.

The draft agreement still requires approval and finalization by relevant authorities, it said.