Bloomberg has published the text of a memorandum of understanding reportedly agreed between the United States and Iran, with formal signing expected to take place in Geneva on June 19.
Publication reports that the 14-point memorandum lays out a framework for ending hostilities and launching negotiations aimed at reaching a comprehensive agreement within 60 days.
The document begins with a commitment by both sides to declare an immediate and permanent end to the war across all fronts, including Lebanon, and to refrain from future hostile actions, the use of force, or threats of force against one another.
The memorandum also includes mutual commitments to respect each other’s sovereignty and territorial integrity and to refrain from interference in internal affairs.
Under the proposed framework, the United States would lift its naval blockade of Iran immediately upon signing and restore full maritime traffic within 30 days. Washington would also commit to withdrawing its forces from surrounding areas within 30 days of a final agreement.
Iran, in turn, would take immediate steps to restore commercial shipping routes from the Persian Gulf to the Gulf of Oman and back to pre-war levels within 30 days, including the removal of technical obstacles and demining operations.
One of the most significant provisions concerns sanctions relief and economic reconstruction. The memorandum states that the United States, together with regional partners, would support a comprehensive recovery and economic development plan for Iran worth at least $300 billion. The mechanism for implementing the plan would be developed during the 60-day negotiation period.
The document further provides for the eventual lifting of all sanctions against Iran, including United Nations-related restrictions, International Atomic Energy Agency-related measures, and both primary and secondary US sanctions, based on an agreed timetable to be negotiated in the final deal.
On the nuclear issue, Iran reiterates that it will never develop nuclear weapons. The memorandum states that the future of Iran’s enriched nuclear material and other nuclear-related issues would be addressed in the final agreement. Until such a deal is reached, both sides would maintain the status quo, with Iran preserving its current nuclear programme and the United States refraining from imposing new sanctions or increasing its military presence in the region.
The text also envisages the gradual unfreezing of Iranian funds and assets, making them available for use by beneficiaries designated by the Central Bank of Iran as negotiations progress.
In addition, the memorandum calls for the establishment of a monitoring mechanism to oversee implementation of the final agreement and ensure compliance with future obligations.
Bloomberg reports that negotiations on a final settlement would begin once implementation of key confidence-building measures—including maritime reopening and sanctions-related steps—has commenced and guarantees regarding their continuation have been received.
The final agreement, if reached, would be endorsed through a binding resolution of the United Nations Security Council.
The reported memorandum comes after months of heightened tensions and military confrontation between Washington and Tehran. If signed as planned, it could mark the beginning of the most significant diplomatic process between the two countries in years and potentially reshape the security landscape of the Middle East.
