The United States has released the official text of a memorandum of understanding with Iran, outlining steps to reopen the Strait of Hormuz, ease financial restrictions, and address Iran’s nuclear program.

The document, titled the Islamabad Memorandum of Understanding, sets a 60‑day window for negotiating a final deal. Among its provisions are the termination of military operations, removal of the US naval blockade, safe passage for commercial vessels, and a commitment by Iran not to develop nuclear weapons.

A senior US official described the agreement as a framework that allows Washington to “dial up” economic relief if Iran demonstrates good behavior. The text also includes a “minimum methodology” for neutralizing Iran’s stockpile of highly enriched uranium, requiring down‑blending under IAEA supervision.

The memorandum will be formally signed Friday, after which negotiations on a binding final deal will begin. That deal is expected to be endorsed by a UN Security Council resolution.

The 14‑Point Agreement

1. End of hostilities — Both sides declare the immediate and permanent termination of military operations on all fronts, including Lebanon, and pledge not to threaten or use force.

2. Respect for sovereignty — The US and Iran agree to respect each other’s sovereignty and territorial integrity, and refrain from interfering in internal affairs.

3. Timeline for final deal — Both parties commit to negotiating and achieving a final deal within 60 days, extendable by mutual consent.

4. Naval blockade lifted — The US will begin removing its naval blockade immediately, fully ending it within 30 days, and withdraw forces near Iran after the final deal.

5. Safe passage of vessels — Iran will ensure safe passage of commercial vessels through the Strait of Hormuz for 60 days, with demining and coordination with Oman and other Gulf states.

6. Economic reconstruction plan — The US, with regional partners, will develop a plan worth at least $300 billion for Iran’s reconstruction and economic development.

7. Sanctions termination — The US agrees to terminate all sanctions, including UN and IAEA resolutions, as part of the final deal.

8. Nuclear commitments — Iran reaffirms it will not develop nuclear weapons. Stockpiled enriched uranium will be down‑blended under IAEA supervision.

9. Status quo maintained — Pending a final deal, Iran will maintain its current nuclear program status, while the US will impose no new sanctions or deploy additional forces.

10. Oil export waivers — The US Treasury will issue waivers for Iranian crude oil exports and related services until sanctions are lifted.

11. Release of frozen funds — The US will make Iran’s frozen or restricted funds fully available for use, with procedures agreed during negotiations.

12. Monitoring mechanism — Both sides will establish an executive mechanism to oversee implementation and compliance.

13. Negotiations on remaining issues — After initial implementation of key measures, negotiations will continue on other provisions.

14. UN endorsement — The final deal will be endorsed by a binding UN Security Council resolution.