Iranian media published details of a 14 point Iran and US memorandum that reportedly includes an immediate and permanent ceasefire across all fronts, including Lebanon. The agreement also calls for an end to the US maritime blockade of Iran and the reopening of the Strait of Hormuz within 30 days under arrangements agreed by Tehran.
The memorandum reportedly includes a US pledge to respect Iran’s sovereignty, avoid interference in its internal affairs, withdraw forces from around Iran, and suspend sanctions on Iranian oil, petrochemicals and related products. Iran would also regain access to its financial resources held abroad.
Under the reported framework, the US and its allies would provide at least $300 billion for Iran’s reconstruction. A final nuclear agreement would be negotiated within 60 days and would include the removal of primary and secondary US sanctions, as well as relevant UN Security Council and IAEA resolutions.
Iran reaffirmed its commitment under the Nuclear Non-Proliferation Treaty not to develop nuclear weapons. During the 60 day negotiation period, the US would not impose new sanctions or deploy additional forces in the region. Iran would also receive $24 billion in frozen funds, with half released before formal talks begin.
Iranian Deputy Foreign Minister Gharibabadi said the Islamabad memorandum has been finalized and will be signed in Switzerland on June 19. He said two measures took effect immediately: “an immediate, permanent end to hostilities on all fronts, including Lebanon” and “the lifting and termination of the maritime blockade of Iran.” He added that Iran would respond if the other side failed to honor its commitments and said Iranian forces remain “finger on the trigger.”
According to reports, Iran’s Parliament Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi will travel to Geneva to sign the agreement, while US Vice President JD Vance is expected to sign on behalf of Washington. If completed, it would mark the highest level Iran US diplomatic contact since relations were severed after the 1979 Iranian Revolution.
US President Donald Trump said in a Sunday interview that he had reached an agreement with Iran that would keep the Strait of Hormuz permanently toll free. Trump claimed that Israeli Prime Minister Benjamin Netanyahu opposed the deal but said US actions had spared Israel from “nuclear annihilation.” He added that if Iran fails to reach a final nuclear agreement, the US could resume military strikes or seek a new regional security arrangement. French President Emmanuel Macron welcomed the reported memorandum and said the France and UK led escort mission in the Strait of Hormuz is ready to deploy if needed.
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