A senior US official has read out to journalists the text of the 14-point interim agreement between the US and Iran to end the war in Iran.
Under the agreement, upon signing, there will be an “immediate and permanent” halt to military operations on all fronts, including Lebanon, for 60 days.
Both sides also commit to “respect each other’s sovereignty and territorial integrity and refrain from interfering in each other’s internal affairs.”
strait of hormuzWhat is under lockdown will be gradually reopened.
A section of the agreement states that Iran will “make arrangements using its best efforts” to allow safe passage of commercial vessels through the Strait of Hormuz for only “60 days” without any charges.
The documents said traffic would resume “immediately” taking into account the removal of “technical and military obstacles” and the need to carry out de-mining operations.
The closure of vital waterways has had a serious impact on the global economy.
What does point 8 of the interim agreement relate to? Iran’s nuclear program and any ambition to develop nuclear weapons.
“The Islamic Republic of Iran reaffirms that it will not purchase or develop nuclear weapons,” the MOU states.
The framework agreement is due to be formally signed in Switzerland on Friday.
Detailed overview of the 14-point agreement
- The US and Iran and their allies “announce an immediate and permanent end to military operations on all fronts, including in Lebanon.”
- The US and Iran “pledge to respect each other’s sovereignty and territorial integrity.”
- The US and Iran are “committed to negotiations and achieving a final agreement within a maximum of 60 days, extendable by mutual consent.”
- Immediately after the signing, the US will begin lifting its naval blockade in the Strait of Hormuz and end it completely within 30 days. Ship traffic would be in proportion to pre-war traffic numbers.
- Iran will provide safe passage for commercial ships without any fees for 60 days.
- The United States and partners will work to develop a plan worth at least $300 billion for Iran’s reconstruction and development.
- US pledges to end all sanctions against Iran.
- Iran reaffirmed that it will not purchase or develop nuclear weapons.
- Until a final agreement is reached, the US and Iran will maintain the current status quo of their nuclear programs and the US will not impose new sanctions or deploy additional forces.
- The US Treasury Department will issue waivers for the export of Iranian crude oil, petroleum products and derivatives and all related services including banking transactions, insurance, transportation, etc.
- The United States pledges to make Iran’s frozen or restricted funds and assets fully available for use.
- The United States and Iran will agree that an executive mechanism will be established to monitor the successful implementation of this MOU and future compliance with the final deal.
- Following signing, and subject to the beginning of implementation of paragraphs 1,4,5,10 and 11 of the MOU and the continued implementation of these measures, the United States and Iran will begin negotiations regarding a final agreement, particularly on the other paragraphs.
- The final deal will have to be approved by a binding UNSC resolution.
Edited by: Roshni Majumdar