Text of the US-Iranian Memorandum of Understanding as distributed by the United States

The United States and Iran announced their agreement, “in good faith,” on a memorandum of understanding that paves the way for a final agreement between the two sides.

This agreement includes a comprehensive cessation of hostilities, reciprocal de-escalation measures, and addressing nuclear, economic, and sanctions-related issues.

The memorandum’s first clause stipulates an immediate and permanent cessation of all military operations between the United States and Iran and their respective allies on all fronts, including in Lebanon.

It also includes a mutual commitment not to resort to force or the threat of its use in the future, and to respect Lebanon’s sovereignty and territorial integrity.

This commitment will be enshrined permanently in the final agreement.

The document further affirms both sides’ commitment to respecting each other’s sovereignty and territorial integrity, and to refraining from any interference in each other’s internal affairs.

It also stipulates that negotiations will be completed and a final agreement reached within 60 days, a period that can be extended by mutual agreement.

On the military front, the memorandum states that Washington will begin lifting the naval blockade and other measures that impede Iranian shipping immediately upon its signing.

The blockade will be fully lifted within 30 days, coinciding with the restoration of shipping traffic to its previous levels.

The United States also pledges to withdraw its forces deployed around Iran within one month of the final agreement being ratified.

In return, Tehran commits to providing safe passage for commercial vessels between the Persian Gulf and the Gulf of Oman for 60 days without imposing fees, and to begin removing mines and other technical and military obstacles to gradually restore maritime traffic within a month.

It will also enter into consultations with the Sultanate of Oman and other Gulf states to establish a future mechanism for managing maritime services in the Strait of Hormuz in accordance with international law.

On the economic level, the United States, in coordination with its regional partners, pledged to prepare a plan for the reconstruction and development of the Iranian economy worth no less than $300 billion.

The mechanism for implementing this plan will be agreed upon within the final agreement, along with granting the necessary licenses to complete related financial transfers and transactions.

Regarding sanctions, Washington expressed its readiness to lift all sanctions imposed on Iran, whether those issued by the UN Security Council or the International Atomic Energy Agency, in addition to primary and secondary US sanctions, according to a timetable to be agreed upon during the negotiations.

Regarding the nuclear issue, Iran reiterated its position that it’s not seeking to acquire or develop nuclear weapons.

Both sides agreed to address the issue of Iran’s enriched uranium stockpile through a mutually agreed-upon mechanism.

This mechanism includes reducing enrichment levels under the supervision of the International Atomic Energy Agency (IAEA), as well as discussing the future of enrichment and Iran’s nuclear needs within the framework of a final agreement.

During the negotiation period, both sides committed to maintaining the status quo, ensuring that Iran doesn’t expand its nuclear program, while the United States refrains from imposing new sanctions or increasing its military presence in the region.

The memorandum also stipulates that the US Treasury Department will issue waivers allowing the resumption of Iranian oil and petroleum product exports and related services, including banking, insurance, and transportation, until all sanctions are fully lifted.

Washington also pledges to make frozen Iranian funds and assets fully available for use immediately upon implementation of the memorandum, with a release mechanism to be agreed upon later, and to guarantee their usability in all payments determined by the Central Bank of Iran.

The document includes the establishment of a joint mechanism to monitor the implementation of the memorandum’s provisions and ensure compliance with the final agreement.

Detailed negotiations on the remaining provisions will begin after the initial commitments related to the cessation of military operations and economic and maritime measures are fulfilled.

The final agreement will be adopted by a binding resolution issued by the UN Security Council.