14-point US-Iran agreement revealed: What’s settled and what remains unresolved

The United States and Iran have signed an initial agreement, aiming at ending months-long conflict in the Middle East and reopening the Strait of Hormuz.

The signing of the memorandum of understanding came during the G7 summit in France, while Iranian President Masoud Pezeshkian later approved the deal in Tehran, as reported by the BBC.

Advertisement

The 14-point MOU between the United States and Iran is a framework agreement designed to de-escalate a three-month conflict. While not a final treaty, it establishes a roadmap for future negotiations and addresses immediate regional stability.

Here are the details of the full document, titled "Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran", what has been settled in the framework and what key issues still need to be resolved.

Conflict cessation ‘on all fronts’

According to the peace deal, all parties involved in the conflict should pursue immediate and permanent termination of all military operations on all fronts including Lebanon. In the future, both sides would refrain from using the force.

Respecting territorial integrity

Both nations will respect each other's sovereignty and territorial integrity, and to avoid interference in internal affairs.

Extendable 60-day window

Iran and the United States have committed to a maximum of 60 days to reach a final deal. However, the window can be extended through mutual consent.

Lifting US naval blockade

Once the MoU is signed, the US will start lifting its naval blockade immediately and fully end it within a month. During this timeline, the reopening of Strait of Hormuz will be proportional to the number of ships the US allows through the ports.

Reopening the Strait of Hormuz

Iran will ensure the safe passage of commercial vessels through the Strait of Hormuz at no charge for 60 days, with full operations restored within 30 days. Iran will consult with Oman and other regional states on the future governance of the Strait.

Iran reconstruction fund

The US and regional partners will establish a “definitive, mutually agreed plan worth at least $300bnfor reconstruction and economic development in Iran.”

The final framework of this fund will be finalized within 60 days and the US will approve all the licenses, waivers and permissions.

Removing sanctions

The US will end all types of sanctions against Iran, including “the United Nations Security Council resolutions, for instance, IAEA Board of Governors resolutions, and all unilateral U.S. sanctions, primary and secondary, in an agreed upon schedule as part of the ‌final deal.”

Future of nuclear weapons

Iran assures the US that it will not develop and procure nuclear weapons. Talking about enrichment, both sides agree to resolve the disposition of enriched material and discuss the enrichment requirements as part of a final deal.

Maintaining status quo in nuclear program

During the negotiation period, Iran will maintain the current status of its nuclear program, and the US will not impose new sanctions or deploy additional regional forces.

Frozen assets and funds

As per MoU, the US will commit to the full release of all frozen and restricted assets belonging to Iran. After the implementation of this agreement, both sides will work collaboratively to lay out the release process. The funds will be made available to Iran’s Central bank and later be distributed to any designated beneficiary.

The United States will issue authorizations and licenses to ensure these transactions can proceed without restriction.

Waivers for export of Iranian crude oil

Until the termination of sanction, the US Treasury department will issue waivers for the Iranian crude oil and petroleum products.

Establishing executive mechanism

An executive mechanism will be established to monitor the implementation of this agreement and future compliance.

UNSC binding

The final deal is meant to be endorsed by a binding United Nations Security Council (UNSC) resolution.

Key issues yet to be resolved

Although Iran has agreed to “down-blend” its uranium enrichment under IAEA supervision, the satisfactory mechanism for the future enrichment and nuclear needs has yet to be determined.

The US administration has been at odds regarding the money of Iran’s reconstruction fund. As per Trump, the US will not add 10 cents of it and even the regional allies don’t have to do it. So the source of money is uncertain.

While Iran has committed to keeping the Strait open for the next 60 days, the long-term administration, maritime services, and collection of fees remain open for discussion between Iran, Oman, and other Persian Gulf littoral states.