The agreement between Iran and the USA establishes the conditions for a ceasefire, the reopening of the Strait of Hormuz, financial aid measures for Iran, and a reaffirmation from Tehran that it will never produce a nuclear weapon, according to a draft of the text cited by Associated Press, Bloomberg, and CNN.
The USA and Iran officially sign a memorandum on Friday that stipulates the conditions of the armistice after four months of war and lays the groundwork for the continuation of negotiations, aiming for a final agreement.
According to the agreement cited by several media institutions, including the Associated Press, the US will allow Iran to sell its oil and petrochemical products, and Tehran could have access to a development fund of 300 billion dollars if it fulfills its commitments related to its nuclear program in subsequent negotiations.
The document does not include details regarding the fate of Iran’s highly enriched uranium.
The full text of the agreement:
- The Islamic Republic of Iran and the United States, together with their allies in the current war, declare, upon signing this memorandum of understanding, the immediate and permanent cessation of war on all fronts, including in Lebanon, and commit that, from now on, they will not launch any hostile action against each other and will refrain from the threat of force or its use against each other. The final agreement will confirm the provisions of this article and of the other articles.
- The Islamic Republic of Iran and the United States commit to mutually respect each other’s sovereignty and territorial integrity and to refrain from interfering in the internal affairs of the other party.
- The Islamic Republic of Iran and the United States commit to negotiate and reach a final agreement within a maximum period of 60 days, which can be extended by mutual agreement.
- Immediately after the signing of this memorandum of understanding, the United States will lift the naval blockade and prevent any interference or obstruction against the Islamic Republic of Iran, restoring traffic to maximum capacity within no more than 30 days; the traffic of ships will be proportional to the volume of traffic from the period before the war on the part of the Islamic Republic of Iran. Also, the United States commits to withdraw its forces from the surrounding areas within 30 days of the conclusion of the final agreement.
- Upon signing this memorandum of understanding, the Islamic Republic of Iran will immediately take measures to ensure the resumption, within 30 days, of commercial ship traffic between the Persian Gulf and the Oman Sea and vice versa, at pre-war volumes, taking into account the need to eliminate technical obstacles and neutralize mines by Iran.
- The United States commits, together with its regional partners, to develop a comprehensive plan, agreed upon by both parties, for the rehabilitation and economic development of the Islamic Republic of Iran, while ensuring a financing of at least 300 billion dollars. The implementation mechanism of this plan, as part of the final agreement, will be formulated within 60 days.
- The United States commits to ending, according to a schedule to be agreed upon as part of the final agreement, all types of sanctions currently imposed on the Islamic Republic of Iran, including resolutions of the United Nations Security Council and the Board of Governors of the International Atomic Energy Agency (IAEA), as well as all unilateral sanctions of the USA, both primary and secondary.
- The Islamic Republic of Iran reiterates that it will never produce nuclear weapons. The Islamic Republic of Iran and the United States have agreed that the fate of the enriched material and the fate of all other issues related to the nuclear field mutually agreed upon, including Iran’s nuclear needs, will be adequately addressed in a final agreement; the final agreement will confirm the provisions of this article.
- The Islamic Republic of Iran and the United States agree that, until the conclusion of a definitive agreement, they will maintain the status quo: Iran will maintain the status quo regarding its nuclear program, and the United States will not impose new sanctions on Iran and will not strengthen its forces in the region.
- The United States undertakes that, immediately after the signing of this memorandum of understanding and until the date of the lifting of sanctions, the Treasury Department of the United States will issue waivers for the exports of Iranian crude oil, petrochemical products and their derivatives, as well as for all related services, including banking, insurance, transportation and other similar services.
- The United States commits that, considering the progress of negotiations towards a final agreement, the frozen or restricted funds and assets of the Islamic Republic of Iran will be unfrozen and made fully available. These funds, whether held in the main account or transferred, will be used for any payment to the final beneficiaries established by the Central Bank of the Islamic Republic of Iran and will be fully available for use. The United States commits to issuing all necessary permits and licenses on this basis.
- The Islamic Republic of Iran and the United States agree that a mechanism will be established to monitor the successful implementation of the Final Agreement and compliance with future commitments provided by it.
- After signing this memorandum of understanding and after receiving guarantees regarding the commencement of the implementation of articles 4, 5, 10, and 11 of this memorandum of understanding, as well as the continuation of the implementation of these measures, the Islamic Republic of Iran and the United States will initiate negotiations for an exclusive final agreement on the remaining articles.
- The final agreement will be approved through a mandatory resolution of the UN Security Council.