US and Iran Sign Historic Memorandum of Understanding to End Hostilities
The United States and Iran have signed a historic Memorandum of Understanding to end military operations, lift sanctions, and resolve nuclear concerns. The agreement includes a $300 billion economic reconstruction plan and a commitment to negotiate a final settlement within 60 days.
A historic Memorandum of Understanding (MOU) has been established between the United States of America and the Islamic Republic of Iran, marking a significant shift in diplomatic relations and regional security. Senior officials from the United States disclosed the details of this agreement, which outlines a framework for ending ongoing military hostilities and establishing a path toward a comprehensive final deal.
The agreement, which was confirmed by Pakistani Prime Minister Shehbaz Sharif, mandates an immediate and permanent cessation of military operations across all fronts, including in Lebanon. Both nations have pledged to respect territorial integrity and sovereignty while committing to avoid any future use of force. This pivotal US-Iran peace deal sets a deadline of 60 days to negotiate a final, binding settlement.
Key Provisions of the US-Iran Agreement
Under the terms of the memorandum, the United States has agreed to commence the removal of its naval blockade and relocate its forces from the immediate vicinity of Iran within 30 days of the final agreement. In return, Iran will facilitate the safe passage of commercial vessels through the Persian Gulf and the Sea of Oman, working in coordination with the Sultanate of Oman and other regional littoral states to manage maritime services in the Strait of Hormuz.
A major focus of the US-Iran peace deal is the economic and nuclear framework. The United States, in collaboration with regional partners, plans to mobilize at least USD 300 billion to support the reconstruction and economic development of Iran. Regarding nuclear policy, Iran has reaffirmed that it will neither procure nor develop nuclear weapons. Both parties have agreed to a mechanism for managing enriched material, with potential downblending occurring on-site under IAEA supervision.
Furthermore, the United States has committed to terminating various sanctions against Iran, including those mandated by United Nations Security Council and IAEA Board of Governors resolutions. Pending the finalization of these terms, both nations agreed to maintain the status quo. The US Department of Treasury will issue waivers to permit the export of Iranian crude oil and petroleum products, along with associated financial and insurance services. Additionally, frozen funds belonging to the Islamic Republic of Iran will be made accessible to the central bank upon implementation. An executive mechanism will be established to monitor compliance as both nations work toward a final deal, which is expected to be endorsed by a binding UNSC resolution.
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