Today, the United States of America published the official text of the agreement reached with Iran.
The 14-point document is said to set out provisions for the reopening of the Strait of Hormuz, easing financial restrictions on Iran, and expectations for addressing Iran’s nuclear program during future technical talks.
It is also reported that the memorandum is expected to be officially signed on Friday, which, as President Trump himself has stated, will open a 60-day period to negotiate the final terms of an agreement.
The points of the memorandum are listed as follows, according to CNN:
1 — The United States of America and the Islamic Republic of Iran and their allies in the current war are signing this Memorandum of Understanding to declare the immediate and permanent cessation of military operations on all fronts, including Lebanon, and pledge that they will henceforth not initiate any war or any military operations against each other, and to refrain from the threat or use of force against each other, and to ensure the territorial integrity and sovereignty of Lebanon.
The final agreement will confirm the permanent cessation of hostilities on all fronts, including Lebanon, and other provisions of this paragraph.
2 — The United States of America and the Islamic Republic of Iran pledge to respect each other’s sovereignty and territorial integrity and to refrain from interference in each other’s internal affairs.
3 — The United States of America and the Islamic Republic of Iran commit to negotiating and reaching a final agreement within a maximum period of 60 days, with the possibility of extension by mutual consent.
4 — immediately upon the signing of this Memorandum of Understanding, the United States of America will begin lifting its naval blockade and any concerns or impediments against the Islamic Republic of Iran, and will fully end the naval blockade within 30 days.
During this period, shipping traffic will be commensurate with the pre-war traffic being restored by the Islamic Republic of Iran. The United States of America also commits to removing its forces from the vicinity of the Islamic Republic of Iran within 30 days of the final agreement.
5 — After the signing of this Memorandum of Understanding, the Islamic Republic of Iran will make arrangements using its best efforts for the safe passage of commercial vessels free of charge, for 60 days only, from the Persian Gulf to the Sea of Oman and vice versa.
Commercial vessel traffic will resume immediately, and taking into account the need for the removal of technical and military obstacles and mine clearance by the Islamic Republic of Iran, will begin within 30 days. The Islamic Republic of Iran will hold a dialogue with the Sultanate of Oman to determine the future administration and maritime services in the Strait of Hormuz, in consultation with other coastal states of the Persian Gulf, in accordance with applicable international law and the sovereign rights of the coastal states of the Strait of Hormuz.
6 — The United States commits with regional partners to develop a final, mutually agreed upon plan of at least $300 billion for the economic reconstruction and development of the Islamic Republic of Iran. The mechanism for implementing this plan will be finalized as part of a final agreement within 60 days. All required licenses, exemptions, and permits for relevant financial transactions will be granted by the United States.
7 — The United States of America undertakes to terminate all types of sanctions against the Islamic Republic of Iran, including United Nations Security Council resolutions,
The resolutions of the IAEA Board of Governors, all unilateral US sanctions, primary and secondary, on an agreed schedule as part of the final agreement. The Islamic Republic of Iran and the United States of America recognize the critical importance of the issue of ending the sanctions mentioned above and expressed their intentions to immediately address these issues in negotiations with a view to reaching a mutual agreement thereon.
8 — The Islamic Republic of Iran reaffirms that it will not acquire or develop nuclear weapons. The United States of America and the Islamic Republic of Iran have agreed to resolve the issue of the destruction of enriched material in the stockpile in accordance with a mechanism to be mutually agreed upon in accordance with the timetable referred to in paragraph seven, with the minimum methodology to be developed domestically under the supervision of the IAEA.
The two sides also agreed to discuss the issue of enrichment and other mutually agreed issues related to the nuclear needs of the Islamic Republic of Iran, based on a satisfactory framework agreed in the final agreement. The final agreement will confirm the provisions of this paragraph and the Islamic Republic of Iran recognizes the critical importance of nuclear issues to the above missions. They express their intention to promptly address these issues in negotiations with a view to reaching a mutual agreement thereon.
9 — Pending a final agreement, the United States and the Islamic Republic of Iran agree to maintain the status quo. The Islamic Republic of Iran will maintain the current status quo on its nuclear program, and the United States will not impose new sanctions or deploy additional forces to the region.
10 — The United States of America undertakes that immediately upon the signing of this Memorandum of Understanding and until the end of sanctions, the U.S. Treasury Department will issue exemptions for the export of Iranian crude oil, petroleum products and their derivatives, as well as all related services, including banking transactions, insurance, transportation, etc.
11 — The United States of America undertakes to make fully available for use frozen or restricted funds and assets of the Islamic Republic of Iran upon the implementation of this Memorandum of Understanding. The United States of America and the Islamic Republic of Iran will mutually agree on the procedures related to the release of these funds during negotiations.
Such funds, whether received in the original account or transferred, will be made fully available for payment to any ultimate beneficiary designated by the Central Bank, excuse me, ultimate beneficiary designated by the Central Bank of the Islamic Republic of Iran. The United States of America undertakes to issue all necessary licenses and authorizations accordingly.
12 — The United States of America and the Islamic Republic of Iran agree that an executive mechanism will be established to monitor the successful implementation of this Memorandum of Understanding and the future compliance with the final agreement.
13 — After the signing of this Memorandum of Understanding, and subject to the commencement of implementation of paragraphs 1, 4, 5, 10, and 11 of this Memorandum of Understanding, and the continued implementation of these measures, the United States of America and the Islamic Republic of Iran shall commence negotiations regarding a final agreement exclusively on the remaining paragraphs.
14 — The final agreement will be approved by a binding UN Security Council resolution.