Full Draft of U.S.-Iran Understanding Sets Ceasefire, Sanctions Relief and Nuclear Terms

A full memorandum of understanding between the United States and Iran was published Wednesday evening, laying out 14 agreed points that the two sides said were reached “jointly and in good faith.” The text says Washington and Tehran, along with their allies in the current war, will immediately and permanently halt military activity on all fronts, including Lebanon, and pledge not to launch further war or force against each other. The final agreement is meant to confirm a permanent end to the fighting.

The draft says both sides will respect each other’s sovereignty, avoid interfering in internal affairs, and try to reach a final deal within 60 days, unless both agree to extend talks. The United States would begin lifting its naval blockade and other restrictions on Iran immediately, finish that process within 30 days, and pull its forces away from Iran within 30 days after the final deal is signed. Iran, for its part, would work to guarantee safe, fee-free passage for commercial ships for 60 days between the Persian Gulf and the Gulf of Oman, with full traffic restored within 30 days after technical, military and mine-clearing obstacles are removed.

The memorandum also calls for Iran to hold talks with Oman on future governance and maritime services in the Strait of Hormuz, in consultation with other Gulf states and in line with international law. The United States, together with regional partners, would help craft a final reconstruction and economic development plan for Iran worth at least $300 billion, with implementation details to be settled within 60 days. Washington would also provide all licenses and exemptions needed for financial transactions.

On sanctions, the draft says the U.S. will lift all sanctions on Iran, including UN Security Council measures, International Atomic Energy Agency board decisions, and American primary and secondary sanctions, on a timetable to be agreed in the final deal. Iran again says it will not acquire or develop nuclear weapons. The sides say they will decide how to deal with accumulated enriched material, with the minimum option being dilution on site under IAEA supervision, and will discuss enrichment and other nuclear issues within a framework to be set later. Until the final agreement is signed, Iran will keep its nuclear program at its current status, while the U.S. will impose no new sanctions and deploy no additional forces in the region. The Treasury would immediately issue waivers to allow exports of Iranian crude, petroleum products and related services, and Iran’s frozen or restricted funds would be made fully usable. An implementation mechanism will oversee compliance, and the final agreement will later be endorsed by a binding UN Security Council resolution.