Senior US officials have disclosed the contents of a preliminary memorandum of understanding (MOU) between Washington and Tehran aimed at ending the 110-day conflict that has resulted in thousands of casualties and severe global economic disruption. The officials briefed journalists on Wednesday before the document was signed by US President Donald Trump and Iranian counterpart Masoud Pezeshkian. Both parties now have 60 days to negotiate the final terms.
Key Provisions of the Agreement
1. Immediate Cessation of Hostilities
The US and Iran, along with their allies, agree to an immediate and permanent halt to military operations on all fronts upon signing. This includes Lebanon, requiring Iran to restrain Hezbollah. However, Israel retains the right to retaliate if attacked, and was not party to the negotiations.
2. Uranium Down-blending
Iran has agreed to down-blend its enriched uranium stockpile on its soil under IAEA supervision. This mirrors an earlier Iranian offer from February, before the war began. Further nuclear issues remain for negotiation.
3. Sanctions Relief Tied to Nuclear Deal
Sanctions relief is linked to progress on the nuclear program. The US commits to terminating all sanctions on an agreed schedule as part of the final deal. Iran will not receive broad relief simply by signing the MOU.
4. Oil Sanctions Waiver
Immediately upon signing, the US Treasury will issue waivers for Iranian crude oil exports, petroleum products, and associated banking services. This move acknowledges that Iranian oil was already reaching China despite sanctions.
5. Strait of Hormuz Restoration
Iran must ensure toll-free passage for commercial vessels for at least 60 days, with full traffic restoration within 30 days. However, Iran's chief negotiator later stated that Tehran would charge fees after the grace period.
6. Frozen Assets Release
Iran's frozen funds will only be released after it implements the agreement's terms, not upon signing. The funds can then be used for payments to beneficiaries designated by Iran's central bank.
7. 60-Day Negotiation Period
Both sides have 60 days to negotiate a comprehensive final agreement, extendable by mutual consent. A UN Security Council resolution would be required to endorse any final deal. Either side can walk away at any time, and if talks collapse, the US is prepared to tighten economic pressure.
