The U.S.is expected to lift sanctions on Iran and unfreeze funds and assets linked to the country’s regime, under a 14-point memorandum of understanding provided to NBC News by a senior U.S.
official.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.The interim agreement declares an intent to bring about an “immediate and permanent termination of military operations” in the U.S-Israeli war with Iran, which began Feb.28, unleashing chaos across the Middle East and rattling the world economy.Both sides will commit to further talks toward a more substantive “final deal” within 60 days, “extendable with mutual consent.”The MOU stipulates that the Strait of Hormuz should reopen, with Iran agreeing to allow “safe passage of commercial vessels with no charge for 60 days only,” followed by negotiations with Oman to “define the future administration” of the vital trade route, through which some 20% of the world’s oil passed before the war.Under the agreement, the U.S.
will “terminate all types of sanctions,” will “make fully available for use the frozen or restricted funds and assets,” and will begin the removal of its naval blockade of Iran’s ports.Iran “reaffirms that it shall not procure or develop nuclear weapons,” with a mechanism to be “mutually agreed” relating to its “enriched material” stockpile.The senior U.S.official said that Iran’s commitment to the destruction of its enriched stockpile is “a major, major win for the United States of America,” adding that sanctions relief will be tied to the nuclear settlement and “to the extent” that Iran fulfils its obligations.One point in the memorandum that could draw criticism is a commitment for the U.S.
to work with regional partners to develop a plan for at least $300 billion to be distributed to Iran for “reconstruction and economic development.” The draft memorandum notes that the mechanism for the distr...