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The US and Iran are expected to officially sign a memorandum on June 19 in Switzerland.
The move is expected to pave the way for 60 days of talks aimed at ending their war for good and imposing strict new restrictions on Iran's nuclear program.
Below is the text of the 14-point draft memorandum:
1. The Islamic Republic of Iran and the United States, together with their allies in the present war, declare by the signing of this Memorandum of Understanding an immediate and permanent end to the war on all fronts, including Lebanon, and pledge that they will henceforth take no hostile action against each other and will refrain from the threat or use of force against each other. The final agreement will confirm the provisions of this Article and the remaining Articles.
2. The Islamic Republic of Iran and the United States pledge to respect each other's sovereignty and territorial integrity and to refrain from interference in each other's internal affairs.
3. The Islamic Republic of Iran and the United States commit to negotiating and reaching a final agreement within a maximum period of 60 days, extendable by mutual consent.
4. Immediately upon the signing of this Memorandum of Understanding, the United States shall lift the naval blockade and prevent any interference or obstruction against the Islamic Republic of Iran, and restore traffic within a maximum of 30 days at its full capacity; the vessel traffic shall be proportional to the volume of pre-war traffic from the Islamic Republic of Iran. The United States also undertakes to withdraw its forces from the surrounding areas within 30 days after the final agreement.
5. Upon signing this Memorandum of Understanding, the Islamic Republic of Iran will immediately take steps to ensure that the movement of merchant ships from the Persian Gulf to the Sea of ??Oman and vice versa resumes within 30 days at the pre-war volume, taking into account the need for the removal of technical obstacles and the neutralization of mines by Iran.
6. The United States commits, together with its regional partners, to develop a comprehensive, mutually agreed-upon plan for the economic rehabilitation and development of the Islamic Republic of Iran, while providing at least $300 billion in financing. The mechanism for implementing this plan, as part of the final agreement, will be formulated within 60 days.
7. The United States commits to ending, according to a timetable to be agreed upon as part of the final agreement, all types of sanctions currently facing 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), and all unilateral U.S. sanctions, both primary and secondary.
8. 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 enriched material and the fate of all other nuclear-related matters, which are 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.
9. The Islamic Republic of Iran and the United States agree that, pending a final agreement, they will maintain the status quo: Iran will maintain the status quo on its nuclear program and the United States will not impose new sanctions on Iran or strengthen its forces in the region.
10. The United States undertakes that immediately upon the signing of this Memorandum of Understanding, and until the date of lifting of sanctions, the United States Department of the Treasury will issue exemptions for exports of Iranian crude oil, petrochemical products and their derivatives, and all related services, including banking, insurance, transportation, and the like.
11. The United States undertakes that, in light of the progress of negotiations towards a final agreement, frozen or restricted funds and assets of the Islamic Republic of Iran will be released and made fully available. These funds, whether held in the main account or transferred, will be used for any payment to the ultimate beneficiary designated by the Central Bank of the Islamic Republic of Iran and will be fully available for use. The United States undertakes to issue all necessary permits and licenses on this basis.
12. The Islamic Republic of Iran and the United States agree that an implementation mechanism will be established to oversee the successful implementation of and future commitment to the Final Agreement.
13. After signing this Memorandum of Understanding and after receiving assurances regarding the commencement of implementation of Articles 4, 5, 10 and 11 of this Memorandum of Understanding and the continued implementation of these steps, the Islamic Republic of Iran and the United States will enter into negotiations for a Final Agreement with respect to the remaining Articles only.
14. The final agreement will be approved through a binding agreement./CNA
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