Read: US officials release 14-point initial agreement to end war with Iran
The interim agreement ends fighting on all fronts for 60 days and sets out provisions for the reopening of the Strait of Hormuz. The text
The interim agreement ends fighting on all fronts for 60 days and sets out provisions for the reopening of the Strait of Hormuz. The text of the 14-point interim agreement between the US and Iran to end the war in Iran has been read out by a senior US official to journalists. Under the agreement, upon signing, there would be an immediate and permanent halt of military operations on all fronts for 60 days. The two parties also commit to "respect each other's sovereignty and territorial integrity and to refrain from interfering in each other's internal affairs." The Strait of Hormuz, which has been under blockade, would be gradually reopened. Part of the agreement notes that Iran will "make arrangements using its best efforts" to allow safe passage of commercial vessels through the Strait of Hormuz for "60 days" only with no charge.
The documents note that traffic will start flowing "immediately," taking into account the need to remove "technical and military obstacles" and carry out de-mining operations. Closure of the vital waterway has severely impacted the global economy. Point 8 of the interim agreement deals with Iran's nuclear program and any ambition to develop nuclear weapons. "The Islamic Republic of Iran reaffirms that it shall not procure or develop nuclear weapons," the MOU states. The framework agreement is due to be formally signed on Friday in Switzerland. Overview of the 14-point agreement in detail The US and Iran and their allies "declare the immediate and permanent termination of military operations on all fronts, including in Lebanon." The US and Iran "undertake to respect each other's sovereignty and territorial integrity." The US and Iran "commit to negotiating and achieving the final deal in maximum 60 days extendable with mutual consent." Immediately upon signing, the US will begin removing its naval blockade in the Strait of Hormuz and will fully end it in 30 days.
Vessel traffic will be in proportion with pre-war traffic numbers. Iran will make arrangements for safe passage of commercial vessels with no charge for 60 days. The US and partners will undertake to develop a plan of at least $300 billion for the reconstruction and development of Iran. The US undertakes to terminate all types of sanctions against Iran. Iran reaffirms that it shall not procure or develop nuclear weapons. Pending the final deal, the US and Iran will maintain the current status quo of its nuclear program and the US will not impose new sanctions or deploy additional forces. US Department of Treasury will issue waivers for the export of Iranian crude oil, petroleum products, and derivatives, and all associated services, including banking transactions, insurances, transportation, etc. The US undertakes to make fully available for use the frozen or restricted funds and assets of Iran.
The BriefWire