The United States and Iran are expected to sign a formal memorandum of understanding on June 19 in Switzerland, setting the stage for 60 days of talks aimed at ending their conflict and imposing new restrictions on Iran's nuclear program.
According to Bloomberg, the draft memorandum consists of 14 key points:
1. Both Iran and the United States, along with their allies, declare an immediate and permanent end to the ongoing war on all fronts, including in Lebanon, pledging not to undertake hostile actions against each other or threaten the use of force. A final agreement will affirm these and other terms.
2. Iran and the U.S. commit to respecting each other's sovereignty and territorial integrity, refraining from interfering in internal affairs.
3. Both nations agree to negotiate a final settlement within a maximum of 60 days, extendable by mutual consent.
4. Following the signing, the U.S. will lift the naval blockade and refrain from interference against Iran, returning maritime activity to pre-war levels within 30 days. The U.S. agrees to withdraw its forces from nearby regions within 30 days of a final deal.
5. Iran will take immediate steps to resume commercial shipping between the Arabian Gulf and the Gulf of Oman to pre-war levels within 30 days, removing technical barriers and neutralizing mines.
6. The U.S., in collaboration with regional partners, pledges to develop a comprehensive plan for Iran's economic rehabilitation, ensuring no less than $300 billion in funding, with a mechanism established within 60 days.
7. The U.S. commits to ending all current sanctions on Iran as per a mutually agreed timeline, including those by the UN Security Council and the IAEA Board of Governors, as well as U.S. unilateral sanctions.
8. Iran reaffirms it will never produce nuclear weapons. Both sides agree that matters concerning enriched materials and other nuclear issues will be addressed in the final agreement.
9. Until a final agreement is reached, Iran and the U.S. will maintain the status quo: Iran will not advance its nuclear program, and the U.S. will impose no new sanctions or augment its regional forces.
10. The U.S. will grant Treasury Department waivers for Iranian crude oil exports and related services, including banking, insurance, and transportation, until sanctions are lifted.
11. In recognition of progress toward a final deal, the U.S. will release and make available all frozen or restricted Iranian funds and assets.
12. Both nations will establish an implementation mechanism to supervise adherence to the final agreement.
13. After the memorandum signing and with assurances of fulfilling certain steps, Iran and the U.S. will commence negotiations on unresolved points for a final agreement.
14. The final agreement will be legitimized by a binding UN Security Council resolution.