Washington and Tehran are expected to sign a memorandum of understanding in Switzerland on June 19, next Friday, that will form the basis for 60-day talks aimed at definitively ending the war and imposing new strict restrictions on Iran's nuclear program.
The 14-point draft, which was obtained by Bloomberg, outlines a broad framework of commitments that includes a cessation of hostilities, the lifting of sanctions, the reopening of the Strait of Hormuz, economic support for Iran and new rules on its nuclear program.
Permanent end to war
The first article provides that the Islamic Republic of Iran and the United States, together with their allies, declare by signing the memorandum the immediate and permanent end of the war on all fronts, including Lebanon.
The two sides commit to not taking any hostile actions in the future and to refrain from threats or use of force against each other.
At the same time, they undertake to respect the sovereignty and territorial integrity of each side, as well as not to interfere in the internal affairs of the other side.
Agreement within 60 days
The draft provides that negotiations for the final agreement will be completed within 60 days, with the possibility of extension only upon mutual consent.
Reopening of the Strait of Hormuz
The central point of the agreement is the full restoration of navigation in the Strait of Hormuz.
The United States undertakes to immediately lift the naval blockade and restore smooth ship traffic to pre-war levels within 30 days.
In addition, they commit to withdrawing their military forces from the surrounding areas within 30 days of the signing of the final agreement.
For its part, Iran will take immediate measures to ensure that the passage of commercial ships between the Persian Gulf and the Sea of Oman also returns to pre-war levels within a month, including the demining of sea lanes.
$300 billion package for Iran
One of the most striking points of the draft is the commitment of the US and its regional allies to draw up a comprehensive program for the economic reconstruction and development of Iran.
The plan provides for financing of at least $300 billion, while the implementation mechanism will be determined as part of the final agreement.
Gradual lifting of all sanctions
The United States is committed to proceeding, based on a timetable to be agreed upon later, with the lifting of all sanctions imposed on Iran.
This includes both United Nations and International Atomic Energy Agency sanctions as well as primary and secondary US sanctions.
The nuclear program
Tehran reiterates in the draft that it will never acquire nuclear weapons.
The two sides agree that issues such as stocks of enriched material, Iran's nuclear needs and all related technical details will be regulated in the final agreement.
Until then, the status quo will be maintained: Iran will not expand its nuclear program and the United States will not impose new sanctions or strengthen its military presence in the region.
Immediate easing of restrictions on oil exports
The US Treasury Department will issue exemptions immediately after the signing that will allow exports of Iranian crude oil, petrochemical products and their derivatives.
The exemptions will also cover banking services, insurance, transportation and any other related activity.
Release of frozen funds
The agreement also provides for the release of frozen or seized Iranian assets as negotiations on the final agreement progress.
These funds will be made fully available for use by the Central Bank of Iran, while the US is committed to issuing all required licenses.
Supervision mechanism and international registration
The two countries agree to create a special monitoring mechanism for the implementation of the final agreement and the observance of the resulting commitments.
The final text of the agreement is expected to be approved through a binding resolution of the UN Security Council, giving international legal force to its provisions.
Source: protothema.gr
