No Nukes, $300 Billion Fund: What's Inside US-Iran 14-Point Deal

Details have emerged about the secretive US-Iran 'memorandum of understanding' (MoU), laying out the terms that extend the ceasefire to Lebanon, allow Iran to manage the Strait of Hormuz, temporarily waive Iranian oil sanctions and establish a pathway toward a comprehensive peace agreement. The full text of the agreement has not been officially released, but Bloomberg News and Al Arabiya have published what they say is the 14-point MoU. 

The reported text shows that the terms agreed upon between Washington and Tehran have no concrete solution regarding Iran's nuclear programme apart from a pledge to never produce or obtain a nuclear weapon and openness to further discuss other details, including the removal or destruction of Tehran's highly enriched nuclear dust (uranium) in a 60-day negotiation period that will begin after the MoU is signed on Friday.

The framework also outlines commitments between Iran and the US regarding sanctions relief for the Islamic Republic, maritime security in the Middle East and the eventual withdrawal of American forces from the region.

According to the US and Saudi outlets, the 14 points in the MoU include the following:

1. The deal declares an "immediate and permanent end to the war on all fronts, including Lebanon", with both the US and Iran, "together with their allies in the current war", undertaking that "from now on, they will not launch any hostile action against each other and will refrain from the threat or use of force against each other". Though the MoU does not explicitly mention Israel, the mention of "allies" indicates that the cessation of Israeli strikes in Lebanon is included in the deal. 
2. The deal also calls for Iran and the US to respect each other's sovereignty and territorial integrity and to refrain from interfering in each other's internal affairs.
3. Iran and the United States negotiate and reach a final agreement within a maximum period of 60 days after the signing of the MoU, extendable by mutual consent.
4. The terms dictate that immediately upon the signing of the agreement, the United States will lift the naval blockade on Iranian ports and "undertakes to withdraw its forces from the surrounding areas within 30 days after the final agreement".
5. Iran will also "immediately take steps" to allow transit in the Strait of Hormuz to ensure that the movement of merchant ships from the Persian Gulf to the Sea of ​​Oman and vice versa returns to the pre-war volume within 30 days. 
6. The US and its regional allies will also have to create a "comprehensive plan" for the "rehabilitation and economic development" of Iran and ensure financing of at least $300 billion. The reports claimed that the implementation mechanism of this plan, as part of the final agreement, will be formulated within 60 days.
7. The US commits to ending "all types of sanctions" on Iran, including those by the UN Security Council, the Board of Governors of the International Atomic Energy Agency (IAEA), and all unilateral US sanctions, both primary and secondary, "on a schedule to be agreed upon as part of the final agreement".
8. Iran "reiterates that it will never produce nuclear weapons", and the fate of enriched uranium and the fate of all other mutually agreed nuclear-related issues, including Iran's nuclear needs, will be adequately addressed in a final agreement. 
9. Iran and the US will also agree that after the final agreement is signed, they will maintain the status quo. Iran will maintain the status quo on its nuclear programme, and the United States will not impose new sanctions on Iran or strengthen its forces in the region.
10. The United States will issue waivers for exports of Iranian crude oil, petrochemical products and their derivatives, and all related services, including banking, insurance, transportation, and the like, until the date of the lifting of sanctions.
11. The US, "in light of the progress of negotiations towards a final agreement", will release frozen or restricted funds and assets of Iran. These funds will be used for any final beneficiary payment determined by the Central Bank of the Islamic Republic of Iran and will be fully available for use. 
12. Iran and the US also agree that an implementation mechanism will be established to oversee the successful implementation of and future commitment to the Final Agreement.
13. The MoU said that after the "assurances regarding the commencement of implementation of Articles 4, 5, 10, and 11", Iran and the US will enter into negotiations for a final agreement solely with respect to the remaining articles.
14. The final agreement will be approved through a binding resolution of the UN Security Council.