The United States and Iran are nearing completion of a Memorandum of Understanding (MOU) to conclude the conflict and lay the groundwork for a comprehensive nuclear agreement. The Trump administration plans to temporarily suspend ‘Project Freedom’ and establish a 30-day period for discussions on opening the Straits, limiting Iran’s nuclear program, and lifting US sanctions. With the price of oil falling and coinciding with strategic talks between China and Iran, expectations are rising for potential changes in the US-Iran relationship.