A senior Iranian official told Reuters that the final draft of the understanding agreement with the U.S. encompasses various topics, including Iran’s nuclear activities, the reopening of the Strait of Hormuz, and U.S. exemptions on oil sanctions. The goal is to negotiate a comprehensive deal within 60 days of both parties signing the memorandum.
The official explained that Iran would promptly reopen the Strait of Hormuz to all commercial ships, while the U.S. would lift its naval blockade on Iranian ports. This process would commence immediately after signing the memorandum and be completed within 30 days. The U.S. has also agreed not to implement any new sanctions on Iran until a final agreement is reached. Once an accord is finalized, all existing U.S. and U.N. sanctions on Iran would be lifted according to a mutually agreed schedule.
Under the terms of the draft, the U.S. will waive oil sanctions for a designated period, allowing Iran to export oil and access related revenues again. Additionally, the deal includes a plan to unfreeze $25 billion of Iranian assets, using a combination of direct cash transfers, regional cooperation tools, and financial credit arrangements.
Furthermore, the U.S., in coordination with regional allies, will develop a reconstruction and development plan for Iran, with negotiations finalizing this within 60 days. On the nuclear front, Iran commits to neither developing nor acquiring nuclear weapons. Until a comprehensive agreement is finalized, Iran will maintain its current nuclear activities, including refraining from further uranium enrichment and expanding nuclear facilities.
The U.S. would also permit Iran to dilute its stockpile of highly enriched uranium on Iranian soil under a future detailed agreement. Key issues such as uranium enrichment procedures, handling of the existing stockpile, and other nuclear safeguards would be negotiated and incorporated into the final deal within the 60-day window.