The US administration on Wednesday published the official text of the memorandum of understanding reached with Iran over the past weekend, following widespread demands that its details be made public.
The memorandum, which was read out by a senior American official, contains 14 main clauses focusing on an immediate halt to military operations, restoring navigation safety in the Strait of Hormuz, and establishing a framework for addressing Iran's nuclear file and easing economic sanctions in exchange for "improved behaviour," according to CNN.
The following is the full official text of the agreement ahead of its final signing on Friday:
The United States of America and the Islamic Republic of Iran have agreed, in good faith, on [date] to the following:
1. The United States of America and the Islamic Republic of Iran, and their allies in the current war, shall sign this memorandum of understanding to declare an immediate and permanent cessation of military operations on all fronts, including Lebanon, and pledge henceforth not to wage any war or conduct any military operation against one another, to refrain from threatening or using force against one another, and to guarantee the territorial integrity and sovereignty of Lebanon. The final agreement shall affirm the permanent cessation of the war on all fronts, including Lebanon, and other provisions of this clause.
2. The United States of America and the Islamic Republic of Iran pledge 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 commit to negotiating and reaching a final agreement within a maximum of sixty days, extendable by mutual consent.
4. Upon signing of this memorandum of understanding, the United States of America shall begin lifting its naval blockade and any barriers or impediments against the Islamic Republic of Iran, and shall fully end the naval blockade within thirty days. During this period, vessel traffic shall be proportional to the number of ships the Islamic Republic of Iran was operating prior to the war. The United States of America also pledges to withdraw its forces from the vicinity of the Islamic Republic of Iran within thirty days of the date of the final agreement.
5. Upon signing of this memorandum of understanding, the Islamic Republic of Iran shall use its best efforts to provide free and safe passage for commercial vessels, for a period of sixty days only, from the Arabian Gulf to the Sea of Oman and vice versa. Commercial vessel transit shall commence immediately, and given the need to remove technical and military obstacles, the Islamic Republic of Iran shall begin demining operations within thirty days. The Islamic Republic of Iran shall conduct a dialogue with the Sultanate of Oman to determine future maritime management and services in the Strait of Hormuz, in coordination with other states bordering the Arabian Gulf, in accordance with applicable international law and the sovereign rights of states bordering the Strait of Hormuz.
6. The United States of America pledges, in cooperation with its regional partners, to finalise a mutually agreed plan worth no less than 300 billion US dollars for the reconstruction and economic development of the Islamic Republic of Iran. The mechanism for implementing this plan shall be finalised as part of a final agreement within sixty days. The United States of America shall grant all necessary licences, exemptions, and permits for related financial transactions.
7. The United States of America pledges to terminate all forms of sanctions imposed on the Islamic Republic of Iran, including United Nations Security Council resolutions, International Atomic Energy Agency Board of Governors resolutions, and all US unilateral sanctions — primary and secondary — according to a timeline agreed upon as part of the final agreement. The Islamic Republic of Iran and the United States of America acknowledge the utmost importance of terminating the aforementioned sanctions, and have expressed their intention to address these matters immediately during negotiations with the aim of reaching a mutual agreement on them.
8. The Islamic Republic of Iran reaffirms that it will not seek to obtain or develop nuclear weapons. The United States of America and the Islamic Republic of Iran have agreed to resolve the status of the enriched material stockpile in accordance with a mechanism to be agreed upon between the two parties, and pursuant to the timeline mentioned in clause 7, adopting a methodology of in-situ down-blending under the supervision of the International Atomic Energy Agency. The two parties have also agreed to discuss the issue of enrichment and other agreed matters relating to the Islamic Republic of Iran's nuclear needs, based on a satisfactory framework to be agreed upon within the final agreement. The final agreement shall affirm the provisions of this clause, and the Islamic Republic of Iran acknowledges the utmost importance of the nuclear matters mentioned above; the two parties also express their intention to address these matters immediately during negotiations in order to reach a joint agreement on them.
9. Pending the conclusion of the final agreement, the United States of America and the Islamic Republic of Iran agree to maintain the status quo. The Islamic Republic of Iran shall maintain the current status of its nuclear programme, while the United States of America shall impose no new sanctions and shall not deploy additional forces in the region.
10. The United States of America pledges that, from the moment of signing of this memorandum of understanding until the lifting of sanctions, the US Treasury Department shall issue exemptions permitting the export of Iranian crude oil, petroleum products and their derivatives, as well as all associated services, including banking transactions, insurance, transportation, and others.
11. The United States of America pledges to make fully available the frozen or restricted funds and assets of the Islamic Republic of Iran upon implementation of this memorandum of understanding. The United States of America and the Islamic Republic of Iran shall agree — during negotiations — on the procedures relating to the release of these funds. These funds shall be made fully available — whether through the original account or by transfer — to make payments to any ultimate beneficiary designated by the Central Bank of the Islamic Republic of Iran. The United States of America also pledges to issue all necessary licences and permits accordingly.
12. The United States of America and the Islamic Republic of Iran agree to establish an implementation mechanism to monitor the successful implementation of this memorandum of understanding and future compliance with the provisions of the final agreement.
13. Following the signing of this memorandum of understanding, and contingent upon the commencement and continuation of the implementation of clauses 1, 4, 5, 10, and 11 thereof, the United States of America and the Islamic Republic of Iran shall begin negotiations on the final agreement, limited exclusively to the remaining clauses.
14. The final agreement shall be adopted by means of a binding resolution of the United Nations Security Council.