US-Iran peace deal: Read full text of ‘leaked’ 14-point draft deal | Today’s news
The full text of the 14-point agreement between the US and Iran to end the war in West Asia was reportedly released by the United States on Wednesday. The memorandum of understanding reached over the weekend with Iran is due to be signed on Friday. It triggers a 60-day window to negotiate the final terms of the deal.
The document is titled “Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran,” according to CNN. Pakistan was a key mediator in the US-Iran peace talks.
It outlines commitments aimed at ensuring the full, free reopening of the Strait of Hormuz and easing some financial restrictions on Iran. It reportedly sets expectations for addressing Iran’s nuclear program during future technical talks.
Quick answers to key questions
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Among other things, the 14-point draft agreement outlines commitments between the US and Iran regarding a ceasefire, respect for sovereignty, the removal of sanctions and a proposed $300 billion development fund.
The $300 billion fund is intended for Iran’s reconstruction and economic development and serves as a financial incentive for Tehran to comply with the terms of the peace deal, particularly regarding its nuclear program.
The US will issue exemptions for Iranian oil exports, lift the naval blockade and, together with regional partners, create a mechanism to monitor compliance with the deal.
Yes, access to the $300 billion fund is conditional on Iran meeting specific commitments related to its nuclear program during future negotiations.
A final deal is expected to be negotiated within 60 days; however, in the absence of an agreement, the status quo on sanctions and military presence is likely to continue.
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The document also suggests that Iran may be able to secure a $300 billion development fund if it meets commitments related to its nuclear program in further negotiations, TIME Magazine reported.
The draft was originally “leaked” by Bloomberg, with a version later published by CNN. The Mint could not independently verify the content of the draft contract.
Steven Cheung, the White House communications director, said publicly that the “purported text” of the MOU obtained by CNN “does not reflect the language of the actual MOU,” TIME magazine reported.
Below is the full text (as reported by CNN):
The United States of America and the Islamic Republic of Iran have jointly agreed in good faith on ( __ date) as follows:
1 — The United States of America and the Islamic Republic of Iran and their allies in the current war sign this memorandum of understanding to declare an immediate and permanent cessation of military operations on all fronts, including Lebanon, and undertake to refrain from the initiation of any war or any military operation against each other and to refrain from the threat or use of force against each other and to ensure the territorial integrity and sovereignty of Lebanon. The final agreement will confirm a permanent end to the war on all fronts, including Lebanon, and other provisions of this paragraph.
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2 — The United States of America and the Islamic Republic of Iran undertake to respect each other’s sovereignty and territorial integrity and to refrain from interfering in each other’s internal affairs.
3 — The United States of America and the Islamic Republic of Iran undertake to negotiate and reach a final agreement within no more than 60 days, which may be replaced by mutual consent.
4 — immediately upon the signing of this memorandum, the United States of America shall begin the removal of its naval blockade and all disturbances or obstructions against the Islamic Republic of Iran, and shall completely end the naval blockade within 30 days. During this period, vessel traffic will be proportional to the number of pre-war traffic restored by the Islamic Republic of Iran. The United States further commits to withdraw its forces from the vicinity of the Islamic Republic of Iran within 30 days of the final agreement.
5 — After the signing of this memorandum, the Islamic Republic of Iran shall make arrangements, using its best efforts, for the safe and free passage of commercial vessels for a period of 60 days only from the Persian Gulf to the Sea of Oman and vice versa. The operation of commercial vessels will be started immediately and in view of the need to remove technical and military obstacles and demining by the Islamic Republic of Iran will be implemented within 30 days. The Islamic Republic of Iran will hold a dialogue with the Sultanate of Oman to define the future governance and maritime services in the Strait of Hormuz in discussion with other littoral states of the Persian Gulf in accordance with applicable international law and the sovereign rights of the littoral states of the Strait of Hormuz.
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6 — The United States commits with regional partners to develop a final, mutually agreed upon plan of at least $300 billion for the reconstruction and economic development of the Islamic Republic of Iran. The mechanism for implementing this plan will be finalized in the final agreement within 60 days. All required licenses, exemptions and permits necessary for the relevant financial transactions will be granted by the United States of America.
7 — The United States of America undertakes to end all types of sanctions against the Islamic Republic of Iran, including UN Security Council resolutions,
Resolutions of the IAEA Board of Governors, all US unilateral sanctions, primary and secondary on an agreed schedule as part of the final agreement. The Islamic Republic of Iran and the United States of America recognize the critical importance of the above issue of ending sanctions and have expressed their intention to immediately address these issues in negotiations to reach a mutual agreement.
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8 — The Islamic Republic of Iran reaffirms that it will not procure or develop nuclear weapons. The United States of America and the Islamic Republic of Iran agree to resolve the disposal of the stockpile of enriched material according to a mechanism to be mutually agreed upon in accordance with the schedule set forth in paragraph seven with a minimum methodology to be blended on site under the supervision of the IAEA. The two sides also agreed to discuss the issue of enrichment and other mutually agreed matters related to the nuclear needs of the Islamic Republic of Iran, based on a satisfactory framework agreed in the final agreement. The final agreement will confirm the provisions of this paragraph and the Islamic Republic of Iran will recognize the critical importance of the nuclear issues of the above missions. They express their intention to immediately deal with these issues in negotiations to reach a mutual agreement on them.
9 — Pending the conclusion of a final agreement, the United States of America and the Islamic Republic of Iran undertake to maintain the status quo. The Islamic Republic of Iran will maintain the current status quo of its nuclear program and the United States will not impose any new sanctions or deploy additional forces in the region.
10 — The United States undertakes that immediately after the signing of this memorandum and until the end of sanctions, the US Treasury Department will issue exemptions for the export of Iranian oil, petroleum products and derivatives and all related services, including banking transactions, insurance, transportation, etc.
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11 — The United States undertakes to make fully available frozen or restricted funds and assets of the Islamic Republic of Iran upon implementation of this memorandum. The United States and the Islamic Republic of Iran will mutually agree upon procedures related to the release of these funds during negotiations. These funds, whether by original account acquisition or transfer, will be fully usable for payment to any final beneficiary designated by the Central Bank, sorry, final beneficiary designated by the Central Bank of the Islamic Republic of Iran. The United States undertakes to issue all necessary licenses and permits accordingly.
12 — The United States and the Islamic Republic of Iran agree that an executive mechanism will be established to monitor the successful implementation of this memorandum and future compliance with the final agreement.
13 — Upon the signing of this memorandum and subject to the commencement of implementation of paragraphs 1, 4, 5, 10 and 11 of this memorandum and the continued implementation of these measures, the United States of America and the Islamic Republic of Iran shall enter into negotiations for a final agreement solely on the other paragraphs.
14 — The final agreement will be confirmed by a binding resolution of the UN Security Council.
