Nuclear promises, unfrozen funds, and lifted sanctions part of US-Iran deal
The United States and Iran are scheduled to meet in Switzerland to sign a memorandum of understanding aiming to de-escalate regional hostilities for 60 days, curb Iran’s nuclear ambitions, and temporarily lift some sanctions on Tehran. The 14-point plan includes a ceasefire across all fronts, especially in Lebanon, with conditions for extending the agreement. Under the deal, the U.S. will lift its naval blockade of the Strait of hormuz, restore normal transit, and withdraw forces within 30 days. Iran will remove naval mines and restore prewar shipping traffic,while also receiving sanctions relief based on an agreed schedule. Additionally, Iran will get support for economic and infrastructure rebuilding, with funding perhaps exceeding $300 billion from regional sources. Concerning nuclear proliferation, Iran agrees never to produce nuclear weapons and to freeze its nuclear program, with discussions underway on its uranium supply. The U.S. will issue waivers for Iran’s oil exports and release frozen assets, contingent on ongoing peace negotiations. Final approval requires a UN Security council resolution once Iran resumes oil exports, with the White House providing comments on the agreement.
The United States and Iran are set to meet in Switzerland on Friday to sign a memorandum of understanding between the two countries that halts hostilities in the region for 60 days, ends Iran’s nuclear ambitions, and conditionally lifts widespread sanctions on Tehran, among other points.
The reported 14-point plan, as seen by Bloomberg, calls for a ceasefire “on all fronts,” specifically noting Lebanon — which has been a sticking point for Israel, as it insists on being able to defend itself from Hezbollah attacks — functioning as a 60-day ceasefire to end all fighting in the region, and is extendable with mutual consent between Washington and Tehran.
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Under the agreement, the U.S. will lift its naval blockade of the Strait of Hormuz, and transit is to resume to prewar levels within 30 days. The U.S. also agrees to withdraw its forces within 30 days of signing the agreement. Iran will remove any naval mines or obstructions for ships traveling to and from the Persian Gulf, also agreeing to return to prewar traffic within 30 days.
Tehran will also receive sanctions relief from Washington “on a schedule to be agreed upon” as part of a final agreement, which would include lifting all unilateral sanctions imposed by the U.S.
Iran will also receive a plan to rebuild its economy and infrastructure under the agreement from the U.S. and regional partners to be formulated over the next two months. While the agreement notes financing of at least $300 billion, Vice President JD Vance has noted that the “Gulf Coast Coalition,” not the U.S., will provide that money if Iran honors its end of the deal.
On Iran’s nuclear program, a primary target of President Donald Trump and other world leaders, Tehran agrees to never “produce” nuclear weapons. Trump previously said he would like to see a stipulation that Iran could also never purchase a nuclear weapon, but that language is not included in the reported agreement.
Additionally, the two sides agree to discuss a plan for Iran’s remaining uranium supply. The two sides agree to maintain the “status quo,” which means Iran will freeze its nuclear program and the U.S. will not impose new sanctions or fortify its forces in the region.
Immediately after signing the agreement and before a final deal is reached, the Treasury Department will issue waivers for all operations related to Iran’s oil exports, a primary source of income.
The U.S. will also agree to release Tehran’s frozen assets and global bank accounts, allowing the country to spend its money freely, but such action will only happen as peace negotiations continue.
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The final agreement will require approval through a binding resolution by the U.N. Security Council that will be worked out once the strait is open and Iran can export its oil.
The Washington Examiner reached out to the White House for comment.
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