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Saudi Arabia-based Al Arabiya television has published the terms of a 14-point memorandum of understanding reportedly prepared between Iran and the United States. The text reported by Al Arabiya contains more detailed provisions compared to the version shared by the Iran-based Mehr News Agency.
According to the first article of the agreement, Iran, the United States, and the allies of the parties to the current war agree to immediately and permanently end the war on all fronts, including in Lebanon. The parties also commit to refraining from any hostile actions against each other, and to avoid threats or the use of force.
Parties to Meet for 60 Days to Reach Final Agreement
The text states that Iran and the US will mutually respect each other’s sovereignty and territorial integrity, and will not interfere in each other’s internal affairs. It also states that the parties will continue negotiations to reach a final agreement within a maximum of 60 days, a period that can be extended by mutual consent. This clause was not included in the version published in Iranian media.
According to the agreement, the US will immediately lift its naval blockade against Iran following the signing of the document. The goal is for Iran’s maritime transport capacity to return to pre-war levels within 30 days at the latest. The US also commits to withdrawing its military presence around Iran within 30 days of the final agreement being reached.
In return, Iran will take the necessary steps to restore commercial maritime transport between the Persian Gulf and the Gulf of Oman to pre-war levels within 30 days. This process will include removing technical obstacles and neutralizing mines.
The economic dimension of the agreement includes a noteworthy clause. According to this clause, the US, along with its regional partners, will contribute to the preparation of a comprehensive plan for Iran’s recovery and development. This plan envisages at least $300 billion in financial support. The implementation mechanism of the plan is expected to be finalized within 60 days of the agreement.
The Agreement Also Includes the Lifting of All Sanctions Against Iran
The agreement also includes a comprehensive settlement regarding sanctions. The US is committed to lifting all existing sanctions against Iran according to a timetable to be determined in the final agreement. This includes ending all sanctions, both large and small, imposed by the United Nations Security Council resolutions, the International Atomic Energy Agency Board of Governors resolutions, and any unilateral sanctions imposed by the US.
On the nuclear front, Iran reaffirms that it will never develop nuclear weapons. The parties agree that issues related to the nuclear program, including the fate of enriched uranium and Iran’s nuclear needs, will be resolved under a final agreement.
The agreement envisages that the parties will maintain the status quo until a final agreement is reached. Accordingly, Iran will continue its nuclear program as it is, while the US will not impose new sanctions on Iran or increase its military presence in the region.
The agreement also states that the US Treasury Department will provide exemptions for Iranian exports of crude oil, petrochemical products, and their derivatives. This exemption will reportedly cover related services, including banking, insurance, and transportation.
Frozen Iranian assets also stand out as one of the key points of the agreement. The US is committing to releasing Iran’s frozen or restricted funds and assets, taking into account the progress made in the negotiations. According to the Iranian media version, $24 billion in frozen Iranian funds would be released during the 60-day final negotiation period, with half of it to be provided to Iran before the negotiations begin.
The parties also agreed to establish a monitoring mechanism to track the implementation of the final agreement and the fulfillment of future commitments.
According to the text published by Al Arabiya, Iran and the US will begin negotiations to reach a final agreement on the remaining terms after receiving assurances regarding the implementation of articles 4, 5, 10, and 11 of the agreement. The Iranian media version added that the final negotiations would begin after the release of some frozen funds, the suspension of sanctions on Iranian oil, and the lifting of the naval blockade.
The same version stated that issues related to Iran’s missile program and its support for resistance groups were explicitly excluded from the negotiation agenda.
According to the final clause of the agreement, the final agreement will be ratified by a legally binding resolution of the United Nations Security Council.
*This is not investment advice.