Iranian President Masoud Bezshkian has hailed the memorandum of understanding with the United States as "historic," following its signing alongside U.S. President Donald Trump. This development sets the stage for negotiations aimed at reaching a final agreement.
Bezshkian shared a version of the memorandum on his social media account on Thursday, showcasing signatures from Trump and Pakistan's Prime Minister Shehbaz Sharif, whose country facilitated the mediation between the two parties.
The three published pages revealed 14 clauses encompassed in the English-language document.
In an accompanying comment, the Iranian president stated, "This is a historic document and a strong message from Iran: Peace will be achieved through mutual respect."
"Fools and Idiots"
Earlier today, President Trump lashed out at critics of the preliminary agreement with Iran, labeling them as "fools and idiots." He argued that critics overlook the all-time high in "stock markets and significantly lower oil prices," as noted in a post on his "Truth Social" account.
The memorandum, comprising 14 clauses, stipulates that both sides will commit to an immediate and permanent cessation of military operations on all fronts, including Lebanon, and respect each other's sovereignty and territorial integrity without interfering in internal affairs.
Both countries have agreed to negotiate a final agreement within 60 days, which may be extended by mutual consent.
Upon signing, the United States is poised to lift its full maritime blockade on Iranian ports within 30 days and withdraw its forces surrounding Iran within 30 days following the final agreement.
Strait of Hormuz and Frozen Assets
Iran pledged to ensure the safe passage of commercial vessels through the Strait of Hormuz without charges for 60 days.
Additionally, the U.S. committed to cooperate with regional partners to develop a jointly agreed final plan worth no less than $300 billion to rebuild and develop Iran's economy.
Further commitments include the termination of all sanctions imposed on Iran as per an agreed timeline, part of the final accord.
Iran also assured that it would desist from acquiring or developing nuclear weapons, agreeing to resolve the issue of stored enriched materials via a mechanism to be agreed within 60 days, with a minimum standard of reducing uranium enrichment under the International Atomic Energy Agency's supervision.
Both sides agreed to address enrichment issues and other agreed matters concerning Iran's nuclear needs based on a satisfactory framework for the final agreement.
Upon signing this memorandum, the U.S. Department of the Treasury will issue waivers for the export of Iranian crude oil and related products and services, including banking, insurance, transportation, etc.
Washington also pledged to make available Iranian frozen or restricted funds and assets for full use upon implementing this memorandum, with mutually agreed procedures for releasing these funds during negotiations. Additionally, both sides agreed to establish an implementation mechanism to monitor the successful execution of this memorandum and future compliance with the final agreement.