The United States has made public the full text of a 14-point memorandum of understanding reached with Iran over the weekend, ending days of silence over what the agreement actually contained.
US officials read out the wording of the document on a conference call, as per the news agency AFP, after growing public pressure over the lack of transparency regarding the deal, which President Donald Trump had announced on Sunday.
The document is formally titled the “Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran.”
It is scheduled to be signed on Friday, after which both sides will have 60 days to negotiate the terms of a final agreement. Iran has so far not released any details of its own.
Also read: How Trump’s Iran Deal Is Creating Trouble For Netanyahu
The memorandum calls for “immediate and permanent termination of military operations on all fronts, including in Lebanon.”
60-Day Window To Reach Final Agreement
On the timeline for talks, the document states, “The United States of America and the Islamic Republic of Iran commit to negotiating and achieving the final deal in maximum 60 days, extendable with mutual consent.”
Open Hormuz
Under the terms of the agreement, the US has committed to removing its naval blockade of Iran within 30 days. During that period, vessel traffic is to be restored in line with pre-war levels. The document also says the US will withdraw its forces from the vicinity of Iran within 30 days of a final deal being concluded.
The document states that “Iran will make arrangements using its best efforts for the safe passage of commercial vessels with no charge for 60 days.”
Iran Agrees Never To Develop A Nuclear Weapon
On the nuclear question, both sides have agreed that Iran will not acquire nuclear weapons. The memorandum says they will cooperate on removing Iran’s enriched nuclear material through what it calls “blending on site under the supervision of the IAEA,” referring to the International Atomic Energy Agency.
$300 Billion Reconstruction Fund
As per the MoU, The US has committed, along with regional partners, to establishing a fund of at least $300 billion for the “reconstruction and economic development of the Islamic Republic of Iran.”
US will also”terminate all types of sanctions against the Islamic Republic of Iran,” with the specific schedule to be worked out as part of the final deal.
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