Senior U.S. officials presented a draft memorandum of understanding with Iran to reporters. The document remains unpublished by Iran, pending a formal signing ceremony scheduled for Friday. The draft aims to set a new baseline for the dilution of Iran’s highly enriched uranium. It includes measures to uphold Lebanon’s territorial integrity after recent Israeli strikes on Hezbollah.
The U.S. plans to ease some sanctions on Iran once the agreement is finalized but will not lift them entirely. The draft allows for free passage through the Strait of Hormuz for 60 days, with potential fees thereafter.
Iran’s Foreign Ministry announced the potential signing of the deal between Presidents Donald Trump and Masoud Pezeshkian. Diplomatic ties between the two countries have been severed since 1980. President Trump indicated hesitance in attending the ceremony, jokingly suggesting blame on Vice President JD Vance if issues arise.
Details of the Draft Agreement
The U.S. and Iran stop military operations on all fronts and respect Lebanon’s sovereignty. A final deal will confirm the war’s termination and safeguard Lebanese territorial integrity.
The draft emphasizes non-interference in each other’s internal affairs and commits to negotiating a final deal within 60 days, extendable by mutual agreement. The U.S. agrees to lift its naval blockade within 30 days after the final deal, allowing commercial vessel traffic to resume.
Iran agrees to allow toll-free commercial vessel passage through the Strait of Hormuz for 60 days. Both nations will engage with regional partners to outline future management and maritime services for the Strait.
The U.S. commits to planning a $300 billion reconstruction initiative for Iran, securing necessary licenses and permissions as part of a final deal within 60 days.
Sanctions removal is addressed, including those from the UN Security Council and U.S. unilateral sanctions. Both nations recognize the importance of resolving nuclear issues, agreeing on downblending procedures for Iranian enriched material under IAEA oversight.
The draft outlines maintaining the current status of Iran’s nuclear program and refraining from imposing new sanctions or deploying additional forces. The U.S. will issue waivers for the export of Iranian oil and services following the MOU signing.
Frozen Iranian funds will be accessible following the MOU, with mutual agreements on release procedures.
An executive mechanism will monitor the MOU implementation and final deal compliance.
- Negotiations for the final deal will proceed following the successful acceptance of key MOU provisions.
- The final deal seeks approval through a binding United Nations Security Council resolution.
This article reflects breaking news, with further updates anticipated. Information for this report includes contributions from the Associated Press.