Bloomberg News has published details of the memorandum of understanding reached between Tehran and Washington, whose central provision stipulates that both countries and their respective allies will declare an immediate and permanent end to military operations on all fronts upon signing the agreement, including in Lebanon, Al Mayadeen reported.
According to the text cited by Bloomberg, both sides committed to refraining from hostile acts, threats, or the use of force against one another. The memorandum also includes mutual pledges to respect sovereignty and territorial integrity and to avoid interference in each other's internal affairs.
The agreement further stipulates that Tehran and Washington will enter formal and direct negotiations on a comprehensive settlement after receiving guarantees regarding the implementation of key provisions. The parties aim to conclude a final agreement within 60 days, with the possibility of an extension, before it is ultimately endorsed through a binding UN Security Council resolution.
The memorandum includes immediate measures concerning military and maritime issues. The United States has pledged to lift its naval blockade on Iran upon signing the agreement and to refrain from obstructing or interfering with Iranian maritime activities.
In return, Iran will work to restore shipping through the Strait of Hormuz within 30 days, taking into consideration the removal of any remaining logistical or security obstacles.
Bloomberg also reported that Washington committed to withdrawing its forces within 30 days of signing a final agreement. Until then, both parties have agreed to maintain the status quo, whereby Iran retains its current nuclear program while the United States refrains from imposing new sanctions or increasing its military presence in the region.
On the economic front, the memorandum establishes the foundations for broad financial and sanctions-related arrangements.
According to Bloomberg, Washington committed to releasing frozen Iranian funds and assets and issuing immediate exemptions for Iranian crude oil exports, petrochemical products and related banking services from sanctions restrictions upon signing the agreement.
The United States also pledged to lift sanctions on Iran according to an agreed timetable as part of a final settlement.
The memorandum further states that Washington will cooperate with regional partners to develop a mutually agreed plan for Iran's economic rehabilitation and development. Bloomberg reported that the plan guarantees funding of no less than $300 billion, with implementation mechanisms to be determined during the 60-day negotiation period.
Regarding the nuclear file, Iran reiterated in the memorandum that it will never produce nuclear weapons.
However, both sides agreed that the fate of Iran's enriched nuclear materials and all remaining nuclear-related issues would be deferred to the forthcoming comprehensive negotiations and addressed as part of the final agreement.
bd-pratidin/GR
