The memorandum further calls for the gradual removal of sanctions imposed on Iran, including United Nations Security Council measures, International Atomic Energy Agency-related restrictions, and unilateral U.S. sanctions.
The United States and Iran are expected to sign a draft memorandum of understanding in Switzerland on June 19 that could pave the way for negotiations aimed at ending hostilities between the two countries and placing new restrictions on Iran’s nuclear programme.
Bloomberg reported that it had obtained a copy of the proposed 14-point memorandum, which outlines a framework for a 60-day negotiation period that could culminate in a broader peace agreement.
According to the report, the proposed memorandum calls for an immediate cessation of hostilities between the two countries and their allies, with both sides committing to refrain from future military action or threats of force against each other.
The draft also provides for mutual recognition of each country’s sovereignty and territorial integrity while committing both governments to avoid interference in each other’s internal affairs.
Under the proposal seen by Bloomberg, negotiations on a final agreement would be completed within 60 days, with the possibility of an extension if both parties agree.
One of the key provisions reportedly requires the United States to lift its naval blockade and restore maritime traffic involving Iran within 30 days of signing the memorandum.
Bloomberg also reported that Washington would commit to withdrawing military forces from surrounding areas within 30 days after the conclusion of a final agreement.
For its part, Iran would reportedly guarantee the safe resumption of commercial shipping between the Persian Gulf and the Gulf of Oman, including efforts to remove mines and eliminate technical obstacles affecting navigation.
Economic measures
The draft memorandum also proposes sweeping economic measures.
According to Bloomberg, the United States would work with regional partners to develop a rehabilitation and economic development programme for Iran valued at at least $300 billion.
The report said the implementation mechanism for the proposed package would be negotiated during the 60-day talks.
The memorandum further calls for the gradual removal of sanctions imposed on Iran, including United Nations Security Council measures, International Atomic Energy Agency-related restrictions, and unilateral U.S. sanctions.
Nuclear commitments
Bloomberg reported that Iran would reaffirm that it would never develop nuclear weapons.
The draft also proposes maintaining the current status of Iran’s nuclear programme throughout the negotiation period, while the United States would refrain from imposing new sanctions or expanding its military presence in the region.
According to the report, unresolved issues involving enriched uranium and other nuclear-related matters would be addressed during negotiations toward a comprehensive final agreement.
Oil exports and frozen assets
The draft further proposes that the U.S. Treasury Department issue waivers permitting exports of Iranian crude oil, petrochemical products and related financial, insurance and transportation services immediately after the memorandum is signed.
Bloomberg said the proposal also provides for the gradual release of Iranian assets frozen abroad, subject to progress in negotiations.
The released funds would reportedly become fully accessible to Iran’s Central Bank for approved payments.
Oversight mechanism
The proposed memorandum also includes plans to establish a joint implementation mechanism to monitor compliance with any future agreement.
According to Bloomberg, once both parties verify that initial commitments have been implemented, negotiations would continue on the remaining provisions of a final agreement.
The report added that any eventual agreement would ultimately be submitted to the United Nations Security Council for approval through a binding resolution.
Neither the U.S. government nor Iranian authorities had officially confirmed the contents of the reported draft memorandum at the time of filing this report.
If signed, the proposed agreement would represent one of the most significant diplomatic developments between Washington and Tehran in years, potentially reshaping regional security, international sanctions policy, and global energy markets.
Tags: US-Iran war
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