US releases 14-point US-Iran MoU for the first time

A senior administration official revealed the text of the memorandum of understanding between the United States and Iran to reporters. The document outlines 14 provisions covering the ceasefire, sanctions relief, nuclear commitments and the timeline for a final deal.

The US-Iran 14-point MoU

1. The US and Iran declare the immediate and permanent end of military operations on every front, including in Lebanon, and commit to refraining from the threat or use of force against each other. The final deal will confirm the permanent termination of the war on all fronts and incorporate the other provisions of this paragraph.

2. The two countries agree to respect each other's sovereignty and territorial integrity going forward. Both sides also commit to refraining from interfering in each other's internal affairs.

3. The US and Iran commit to negotiating and concluding a final deal within a maximum of 60 days. That timeline can only be extended by mutual consent of both parties.

4. The US will begin removing its naval blockade and other impediments on Iran immediately upon signing, with a full lift within 30 days and vessel traffic progressively restored to pre-war levels. Washington also agrees to withdraw its forces from the proximity of Iran within 30 days of the final deal's conclusion.

5. Iran will use its best efforts to ensure free passage for commercial vessels through the Strait of Hormuz for 60 days in both directions, with no fees charged, and commercial traffic is to resume immediately. Tehran is to complete demining and other technical and military measures within 30 days, and will hold talks with Oman and other Gulf states on the strait's future administration and maritime services.

6. The US, in coordination with regional partners, will develop a definitive, mutually agreed reconstruction and economic development plan for Iran worth at least $300 billion. An implementation mechanism for the plan is to be finalized within 60 days, with the US granting all required licenses and waivers for the relevant financial transactions.

7. The US commits to terminating all sanctions on Iran, including UN Security Council resolutions, IAEA Board of Governors resolutions and US unilateral primary and secondary sanctions, according to a schedule to be set in the final deal. Both parties acknowledge the critical importance of the sanctions issue and intend to address it immediately in negotiations.

8. Iran reaffirms it will not procure or develop nuclear weapons. The two sides agree to resolve the disposition of Iran's stockpiled enriched material through a mutually agreed mechanism, with on-site down-blending under IAEA supervision as the baseline method, and will discuss Iran's enrichment activities within a framework to be agreed in the final deal.

9. Pending the final deal, both sides agree to maintain the status quo, with Iran keeping the current status of its nuclear program in place. The US, for its part, agrees not to impose any new sanctions or deploy additional forces in the region during this period.

10. The US Treasury will issue waivers immediately upon signing authorizing Iran to export crude oil, petroleum products and derivatives. Those waivers extend to associated services, including banking, insurance and transportation, and remain in effect until sanctions are terminated.

11. The US will make all frozen or restricted Iranian funds and assets fully available, with procedures for their release and use to be mutually agreed during negotiations. Those funds may be used for payments to any ultimate beneficiary designated by the Central Bank of Iran, with the US issuing all necessary licenses to that end.

12. Both sides agree to establish an executive mechanism to monitor implementation of the MOU. That same mechanism will also track future compliance with the final deal.

13. Once the ceasefire, naval withdrawal, Strait of Hormuz measures, oil waivers and asset release are underway, the two countries will begin negotiating the remaining elements of the final deal. That sequencing is tied specifically to the continued implementation of paragraphs 1, 4, 5, 10, and 11.

14. The final deal is to be endorsed by a binding UN Security Council resolution.