FACTBOX - US releases 14-point draft agreement outlining Iran deal roadmap

US officials on Tuesday released a draft 14-point memorandum of understanding (MOU) between Washington and Tehran that would end military operations, ease sanctions on Iran and launch negotiations on a final agreement to be reached within 60 days.

The document sets out commitments on security, maritime navigation, sanctions relief, nuclear issues and economic cooperation.

According to the draft text, the agreement contains the following provisions:

1. End of military operations: The US, Iran and their allies would immediately and permanently end military operations on all fronts, including Lebanon, and refrain from future threats or use of force.

2. Respect for sovereignty: Both sides would respect each other’s sovereignty and territorial integrity and avoid interference in internal affairs.

3. Final agreement timetable: Washington and Tehran would seek to conclude a final agreement within up to 60 days, with the possibility of extension by mutual consent.

4. End of naval blockade: The US would begin removing its naval blockade and other restrictions on Iran immediately and complete the process within 30 days. US forces would also withdraw from areas near Iran within 30 days after a final deal.

5. Strait of Hormuz arrangements: Iran would facilitate the safe passage of commercial vessels through the Persian Gulf and the Sea of Oman and undertake demining and restoration efforts. Tehran would also discuss the future administration of the Strait of Hormuz with Oman and other Gulf states.

6. Reconstruction package: The US, in coordination with regional partners, undertakes to develop a definitive, mutually agreed reconstruction and economic development plan for the Islamic Republic of Iran valued at a minimum of $300 billion. The implementation mechanism for this plan shall be finalized as part of the final deal within 60 days. The US shall grant all required licenses, waivers, and permissions necessary for the relevant financial transactions.

7. Lifting sanctions: The US would terminate sanctions against Iran, including UN-related measures, IAEA Board resolutions and US primary and secondary sanctions, under an agreed timetable.

8. Nuclear commitments: Iran would reaffirm that it will not develop nuclear weapons. The two sides would negotiate the future of Iran’s enriched uranium stockpile, enrichment activities and other nuclear-related issues.

9. Status quo during talks: Until a final agreement is reached, Iran would maintain the current status of its nuclear program, while the US would refrain from imposing new sanctions or deploying additional military forces.

10. Oil export waivers: The US Treasury Department would immediately issue waivers allowing exports of Iranian crude oil, petroleum products and related services, including banking, insurance and transportation.

11. Release of frozen assets: Washington would release Iran’s frozen and restricted funds and assets, with procedures to be determined during negotiations.

12. Monitoring mechanism: A joint executive mechanism would be established to oversee implementation of the memorandum and compliance with a future agreement.

13. Final negotiations: Negotiations on remaining issues would begin after implementation starts on key provisions related to the ceasefire, maritime security, oil exports and frozen assets.

14. UN endorsement: The final agreement would be endorsed through a binding resolution of the UN Security Council.

The draft agreement is intended to serve as the framework for a broader settlement between the two countries following months of conflict and tensions across the region.