BEIJING: Bloomberg released a 14-point draft memorandum between the United States and Iran Wednesday, with the two sides set to officially sign a memorandum of understanding on June 19 in Switzerland. Below are the key contents of the document.
Upon signing this memorandum of understanding (MoU), Iran and the United States, together with their allies in the current war, declare an immediate and permanent end to the war on all fronts, including Lebanon, and undertake not to launch any hostile action against each other from that point forward, the draft said.
Iran and the United States undertake to respect each other's sovereignty and territorial integrity, and to refrain from interfering in each other's internal affairs, it said.
According to the draft, Iran and the United States undertake to negotiate and reach a final agreement within a maximum period of 60 days, extendable by mutual consent.
Immediately upon the signing of this MoU, the United States will lift the naval blockade and restore traffic within a maximum of 30 days to its full capacity. The United States also undertakes to withdraw its forces from the surrounding areas within 30 days after the final agreement, it said.
The draft also said that Iran will immediately take steps to ensure that the movement of merchant ships from the Persian Gulf to the Sea of Oman and vice versa is resumed within 30 days to the pre-war volume.
The United States undertakes, together with its regional partners, to create a comprehensive plan agreed upon by both parties for the rehabilitation and economic development of Iran, while ensuring financing of at least 300 billion U.S. dollars.
The United States commits to ending, on a schedule to be agreed upon as part of the final agreement, all types of sanctions currently facing Iran, including all unilateral U.S. sanctions, both primary and secondary, it said.
In the draft, Iran reiterates that it will never produce nuclear weapons. Iran and the United States have agreed that the fate of enriched material and the fate of all other mutually agreed nuclear-related issues, including Iran's nuclear needs, will be adequately addressed in a final agreement.
Iran will maintain the status quo on its nuclear program, and the United States will not impose new sanctions on Iran or strengthen its forces in the region, according to the draft.
The draft said that the United States undertakes that immediately after the signing of this MoU, and until the date of the lifting of sanctions, the U.S. Treasury Department will issue waivers for exports of Iranian crude oil, petrochemical products and their derivatives.
The United States undertakes that, in light of the progress of negotiations towards a final agreement, frozen or restricted funds and assets of Iran will be released and made fully available, it added.
