The commitment not to have nuclear weapons, the stop to further enrichment of uranium, the reopening of the Strait of Hormuz and US exemptions from oil sanctions, with a final agreement to be discussed within 60 days of reaching an agreement between the parties. These are the key points of the final draft of the Islamabad memorandum, as reported by Reuters online, which cites a senior Iranian official. The signature that will kick off the second phase of negotiations between Iran and the USA is still awaited. Below is the content of the draft, as reported.
Strait of Hormuz
According to the text, Iran would immediately reopen the Strait of Hormuz to all commercial ships, while the United States would lift the naval blockade on Iranian ports. The lifting of the US blockade would begin immediately after the signing of the memorandum and be completed within 30 days.
Nuclear and uranium
With the memorandum, Tehran would undertake not to produce or acquire nuclear weapons. Pending a final agreement, Iran would maintain the current state of its nuclear program, refraining from further uranium enrichment and plant expansion. In the document, the United States would agree to allow Tehran to dilute its stockpile of highly enriched uranium on Iranian territory, as part of a future global agreement. The nuclear program, enrichment activities and mechanisms for managing stockpiles of highly enriched uranium would be subject to negotiation within 60 days of signature and defined in a final agreement.
Sanctions and frozen assets
The United States would pledge not to impose new sanctions on Iran until a final agreement is reached. Following the agreement, all US and UN sanctions would be lifted according to an agreed timetable. Washington would also suspend oil sanctions for a specified period, allowing Tehran to sell oil and earn revenue. Also according to the draft, the United States would commit to unlocking $25 billion in frozen Iranian assets, including through direct money transfers, cooperation between regional countries and financial lines of credit. In coordination with regional allies, Washington would ultimately prepare a reconstruction and development plan for Iran, to be negotiated and agreed with Tehran within 60 days.