What's in the 14-point US-Iran agreement
What's the story
United States President Donald Trump and Iranian President Masoud Pezeshkian signed the memorandum of understanding (MoU) aimed at ending the war with Iran on Wednesday. The agreement was announced by the White House and confirmed by Iran's foreign minister. The signing took place remotely, with Trump signing from France during the G7 Summit. A signing ceremony planned in Switzerland for Friday remains uncertain.
Agreement details
What 1,2, 3 points say
The first paragraph of the 14 point MOU refers to the "immediate and permanent termination of military operations on all fronts, including in Lebanon." The second point says that the US and Iran agree to "respect each other's sovereignty and territorial integrity and to refrain from interfering in each other's internal affairs." The third says that the two countries will "commit to negotiating and achieving the final deal in (a) maximum 60 days, extendable with mutual consent."
Sanctions and passage
US to stop all sanctions against Iran
The fourth says the US will immediately, upon the signing of this MOU, begin the removal of its naval blockade and will fully end the blockade within 30 days. In the 5th paragraph, Iran pledges to allow safe passage of ships through the Strait of Hormuz, which must be de-mined, with "no charge." The US, in the sixth point, commits to "develop a definitive, mutually agreed plan with at least $300 billion for the reconstruction and economic development of Iran."
Monitoring and compliance
Iran 'reaffirms it shall not procure or develop nuclear weapons'
In the seventh point, the US promises to lift all sanctions against Iran, including UN Security Council (UNSC) resolutions, if a final agreement is reached. It notes that the two nations "acknowledge the critical importance of the sanctions termination." In the eighth and most important point, Iran "reaffirms that it shall not procure or develop nuclear weapons." It also pledges to dispose of its enriched uranium stockpile through a "mutually agreed" mechanism overseen by the International Atomic Energy Agency.
Others
US will 'issue waivers for export of Iranian crude oil'
The next point states that the two nations would "maintain the status quo" until a final agreement on Iran's nuclear program and the US of America will not impose any new sanctions and will not deploy additional forces in the region. According to the 10th point, the US will "issue waivers for the export of Iranian crude oil, petroleum products, and derivatives, and all associated services, including banking transactions, insurances, and transportation."
Rest
Rest of the 14-point MOU
The 11th says the US will unfreeze some funds and assets of Iran upon the successful implementation of the MOU, while 12th says the two countries agree to establish a "mechanism" to "monitor the successful implementation... and future compliance" of the MOU. In the 13th, the US and Iran pledge to "start negotiations regarding the final deal exclusively on the other paragraphs" after signing the MOU. The last says the "final deal will be endorsed by a binding UNSC resolution."