The United States and Iran signed a memorandum of understanding overnight between Wednesday and Thursday, and it has now taken effect, according to Iranian Foreign Ministry spokesman Esmail Baghaei. Although a formal signing ceremony in Switzerland had been expected, the agreement was apparently finalized digitally. Baghaei said the 60-day negotiating phase will begin only after part of Iran’s frozen assets is released.
In remarks to Tasnim, Baghaei said plans had called for the negotiating teams to meet in Geneva or Brussels, but the memorandum would be signed digitally and no ceremony would be held in Switzerland. He added that Iran has not abandoned its allies, and said a ceasefire and an end to the war in Lebanon have remained as important as Iran itself. According to him, Lebanon appears three times in the first article of the memorandum, which also mentions respect for Lebanon’s territorial integrity and national sovereignty. He also said inspections showed Iranian vessels were able to enter and leave ports without difficulty, which he said meant Washington had begun fulfilling its pledge to lift the blockade.
The White House earlier published the full text of the 14-article memorandum, which says there will be an immediate and permanent ceasefire on all fronts, including Lebanon, and that formal talks on a final agreement will begin within 60 days. It also includes a U.S. commitment to remove sanctions and provide broad economic relief, while Iran again pledges not to develop nuclear weapons. The document also says, contrary to U.S. denials, that a reconstruction plan worth at least $300 billion will be provided to Iran.
Under the text, Washington is to begin lifting its naval blockade immediately and complete it within 30 days, while also easing restrictions on Iranian oil exports and unfreezing Iranian funds and assets. Iran is to secure safe commercial shipping between the Persian Gulf and the Gulf of Oman for 60 days, with full traffic to resume within 30 days after technical and military obstacles are removed. The sides also agreed to create an implementation mechanism, maintain the status quo until a final deal is signed, and seek UN Security Council approval for the eventual agreement.
