US-Iran memorandum outlines ceasefire and 60-day talks

A senior U.S. official has provided the clearest public account yet of an unreleased 14-point memorandum of understanding between the United States and Iran that would halt fighting, begin reopening maritime traffic through the Strait of Hormuz and launch talks on a final deal within 60 days.

NBC News reported that the official provided the text of the memorandum Wednesday and said Washington had initially withheld it at Iran’s request. Al Jazeera reported that the official read the text during a call with reporters and said the agreement is scheduled to be signed by both sides in a ceremony Friday. Iranian officials have not confirmed the U.S. version of the text, Al Jazeera reported.

According to the U.S. account, the memorandum says the United States, Iran and their allies in the current war “declare the immediate and permanent termination of military operations on all fronts, including in Lebanon,” and pledge not to start any war or military operation against each other. The text also says both countries would refrain from threats or use of force and respect Lebanon’s territorial integrity and sovereignty.

The memorandum says the United States and Iran would respect each other’s sovereignty and territorial integrity and refrain from interfering in each other’s internal affairs. It commits both sides to negotiate and reach a final deal within a maximum of 60 days, unless both agree to extend the talks.

A major element of the document is maritime access. The U.S. would begin removing its naval blockade and any “disturbances or impediments” against Iran immediately upon signing and fully end the blockade within 30 days, according to the text provided to NBC News. The U.S. would also remove its forces from Iran’s proximity within 30 days after a final deal.

Iran, in turn, would use its “best efforts” to arrange safe passage for commercial vessels, without charge for 60 days, between the Persian Gulf and the Sea of Oman. The text says commercial traffic would begin immediately, while technical and military obstacles, including demining, would be addressed within 30 days. Iran would also hold talks with Oman and other Persian Gulf states on future administration and maritime services related to the Strait of Hormuz.

The memorandum also calls for the United States, working with regional partners, to develop a reconstruction and economic development plan for Iran worth at least $300 billion. The mechanism for carrying it out would be finalized in the final deal within 60 days. Al Jazeera’s account of the official’s reading included an additional sentence saying all required U.S. licenses, waivers and permissions for related financial transactions would be granted.

On sanctions, the text says the United States would terminate all types of sanctions against Iran, including U.N. Security Council resolutions, International Atomic Energy Agency Board of Governors resolutions and unilateral U.S. primary and secondary sanctions, on a schedule to be agreed in the final deal. Until sanctions are terminated, the U.S. Treasury Department would issue waivers for exports of Iranian crude oil, petroleum products and derivatives, along with associated services such as banking, insurance and transportation.

The memorandum says Iran “reaffirms that it shall not procure or develop nuclear weapons.” It says the two countries would resolve the disposition of Iran’s stockpiled enriched material through a mutually agreed mechanism, with at least on-site downblending under IAEA supervision. They would also discuss enrichment and other issues tied to Iran’s nuclear needs.

Pending a final deal, Iran would maintain the status quo of its nuclear program. Al Jazeera quoted the U.S. official as saying the United States would not impose “any new sanctions” or deploy additional forces in the region; the NBC News text says the United States would not impose “any distinctions” and would not deploy additional forces.

The document also says the U.S. would make Iran’s frozen or restricted funds and assets fully available for use, with procedures for releasing the funds to be agreed during negotiations. An executive mechanism would monitor implementation of the memorandum and future compliance with the final deal.

The final deal, according to the memorandum, would be endorsed by a binding United Nations Security Council resolution.