US and Iran to Sign Draft Understanding on Ending War and Nuclear Limits

The United States and Iran are scheduled to officially sign a memorandum of understanding on June 19 in Switzerland, paving the way for 60 days of negotiations aimed at ending the ongoing war and establishing new restrictions on Iran's nuclear program.

Following previous uncertainty surrounding the terms of the US-Iran memorandum, Bloomberg published a draft of the agreement consisting of 14 points.

First, the Islamic Republic of Iran and the United States, along with their allies involved in the current conflict, declare through this memorandum the immediate and final cessation of hostilities on all fronts, including Lebanon. Both parties commit to refraining from any hostile actions against each other and from threatening or using force against one another. The final agreement will confirm the provisions of this article and the remaining clauses.

Second, Iran and the United States pledge to respect each other's sovereignty and territorial integrity and to avoid interfering in each other's internal affairs.

Third, both parties commit to negotiating and reaching a final agreement within a maximum period of 60 days, which can be extended by mutual consent.

Fourth, upon signing this memorandum, the United States will lift its naval blockade and prevent any interference or obstruction against Iran, restoring maritime navigation to full capacity within 30 days. The volume of ship movements will correspond to pre-war levels on the Iranian side. Additionally, the United States commits to withdrawing its forces from surrounding areas within 30 days of the final agreement date.

Fifth, immediately after signing the memorandum, Iran will take steps to ensure the resumption of commercial shipping between the Gulf and the Sea of Oman, and vice versa, within 30 days to pre-war levels. This will consider the need for Iran to remove technical obstacles and clear mines.

Sixth, the United States agrees to collaborate with its regional partners to develop a comprehensive plan, agreed upon by both parties, for the rehabilitation and economic development of Iran. This plan will guarantee financing of no less than $300 billion, with an implementation mechanism to be established as part of the final agreement within 60 days.

Seventh, the United States commits to lifting all current sanctions imposed on Iran according to a timeline agreed upon in the final deal. This includes United Nations Security Council resolutions, International Atomic Energy Agency Board of Governors decisions, and all unilateral US sanctions, whether primary or secondary.

Eighth, Iran reaffirms its commitment never to produce nuclear weapons. Both Iran and the United States agree that the fate of enriched materials and all other nuclear-related issues, including Iran's nuclear needs, will be comprehensively addressed in the final agreement, which will confirm the provisions of this clause.

Ninth, Iran and the United States agree that until a final agreement is reached, the status quo will be maintained: Iran will preserve its current nuclear program status, and the United States will not impose new sanctions or increase its military presence in the region.

Tenth, the United States pledges that from the signing of the memorandum until sanctions are lifted, the US Treasury Department will issue exemptions for Iranian crude oil exports, petrochemical products and derivatives, and all related services, including banking, insurance, and transportation.

Eleventh, in light of progress toward a final agreement, the United States commits to releasing all frozen or restricted Iranian funds and assets and making them fully accessible. These funds, whether held in the main account or transferred, will be used for any final payments designated by Iran's Central Bank and will be fully available for use. The United States will issue all necessary permits and licenses accordingly.

Twelfth, Iran and the United States agree to establish a mechanism to oversee the successful implementation and future compliance of the final agreement.

Thirteenth, after signing this memorandum and upon receiving guarantees regarding the commencement of implementing clauses 4, 5, 10, and 11, and the continuation of these steps, Iran and the United States will enter negotiations to finalize an agreement concerning only the remaining clauses.

Fourteenth, the final agreement will be adopted through a binding resolution by the United Nations Security Council.