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Iranian media has published details of a reported 14-point US-Iran memorandum that halted 108 days of conflict. The agreement includes sanctions relief, a $24 billion asset release, reopening of the Strait of Hormuz, nuclear negotiations and a phased end to hostilities. All you need to know.
The United States and Iran have agreed to halt hostilities after 108 days of war that drove up oil prices globally. On Truth Social, US President Donald Trump confirmed the truce agreement and announced "Let the oil flow" as he revealed that the US would lift its blockade of Iranian ports. Following the announcement, in what may be the most detailed public account of the Memorandum of Understanding (MoU) between the warring nations, Iran state-affiliated Mehr News has shared the 14 conditions that form the basis of the current agreement. Among them is the condition that the US won't "interfere" in Iran's internal affairs and also withdraw its blockade that, in the past few weeks, has sought to bleed Tehran's coffers dry. Here's a breakdown of the 14-point MoU and what each condition signifies:
Citing a source close to Iran's negotiating team, Mehr News reported that the Memorandum has 14 provisions. These are:
In the past few days, Lebanon has emerged as a sticking point between the US and Iran, as Israel continued its strikes on the nation. Just a day earlier, on Sunday, Iranian chief negotiator Mohammad Bagher Ghalibaf said that there was "no point" in continuing peace talks with the United States after its ally Israel attacked Beirut's southern suburbs.
"The Zionists' aggression against Dahieh once again showed that the United States either lacks the will to implement its commitments or lacks the ability to do so," he said in a post on X. "If you do not have the will or the ability to fulfil your commitments, then there is no point in talking about continuing down this path," he added.
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This provision appears to be centred on reports that the US was seeking a regime change in the Islamic Republic. Additionally, this preventive step may have been added to the MoU to avoid a situation similar to Venezuela, where, after triggering a regime change by capturing former president Nicolas Maduro, the US continued to be a party to the nation's internal affairs.
Following the closure of the Strait of Hormuz by Tehran, Trump directed CENTCOM to enforce a blockade of Iranian ports. Subsequently, US troops blockaded all vessels entering or departing Iranian coastal areas and ports, aiming to cripple Iranian oil revenues and deter toll-collection. According to reports, this blockade cost Iran $6 billion in oil revenues.
According to reports, since the start of the ongoing conflict on February 28, the US has deployed between 50,000 and 57,000 troops to the Middle East. Additionally, three U.S. aircraft carriers—the USS Abraham Lincoln, USS Gerald R. Ford, and USS Dwight D. Eisenhower—anchored the regional presence, carrying tens of thousands of personnel and specialised air wings.
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Under this, Iran is expected to retain primary operational control of the strait, through which around 1/5th of the global oil supply passes.
This move is expected to help stabilise the global oil markets. Notably, just after the two nations announced that they've reached an agreement to end hostilities, oil prices tumbled by more than four per cent, reaching $81.15 a barrel.
Already, the United Kingdom, France, Germany and Italy have said that they are prepared to lift sanctions imposed on Iran and will work "with the US, Iran and regional partners to seize this moment, maintain momentum and achieve a long-term diplomatic settlement."
This fund is expected to help Tehran repair and rebuild its crippled oil export infrastructure, industrial facilities, and public utilities which were damaged during the conflict.
Iran said on Monday that it would begin negotiations with the United States within the next two months to pursue a final agreement aimed at formally ending the war between the two countries.
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The US and Israel started the war against Iran alleging that the Islamic Republic was days away from developing a nuclear weapon. Since then, Trump has demanded that Tehran hand over its "nuclear dust".
Now, Iran must explicitly recommit to never seeking, developing, or acquiring any nuclear weapons. This means that Tehran agrees to maintain its status as a non-nuclear-weapon state party to the Nuclear Non-Proliferation Treaty (NPT), binding its program to international law.
10. During the negotiation period, the US commits not to add forces to the region and not to impose new sanctions
The US will have to maintain its regional force presence at current levels and will be barred from deploying any additional soldiers, ships, or aircraft to the Middle East during the talks. Furthermore, Trump cannot introduce any new economic penalties, trade restrictions, or designations against Iranian entities or sectors.
According to Mehr News, the US would release $24 billion in frozen Iranian assets during the 60-day negotiation period. The report claims that $12 billion, half of the total amount, would be made available to Iran before formal negotiations begin.
The safeguard has been put in place to ensure that both sides honour their commitment. During the conflict, both the US and Iran have accused each other of flouting their commitments.
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The final step to codify the MoU is its formal ratification through a United Nations Security Council (UNSC) resolution, which will elevate the bilateral deal into binding international law.
Finally, according to Mehr News, Iran would not participate in any negotiations till the US releases $12 billion of Iran's frozen funds, lifts oil sanctions and lifts its naval blockade.
Notably, as per the report, these provisions are only preliminary and still require "review and finalisation by the relevant institutions in Iran."