UNDER THE TERMS OF THE AGREEMENT, WHICH MEDIATORS HOPE COULD RESTART TALKS ON A FINAL SETTLEMENT, IRAN WOULD ALLOW FREE MOVEMENT OF TRAFFIC THROUGH THE STRAIT OF HORMUZ AND THE U.S. WOULD EASE ITS BLOCKADE OF IRANIAN PORTS IN EXCHANGE, WITH ONE OFFICIAL SAYING PROGRESS HAD BEEN MADE THOUGH THE PARTIES WERE STILL NEGOTIATING THE SEQUENCING OF THE NEXT STEPS - FT