A draft 14-point memorandum of understanding between the United States and Iran has revealed the framework for a potential ceasefire agreement that could bring an end to hostilities between the two longtime rivals and pave the way for broader diplomatic and economic cooperation.
According to a draft copy obtained by CNN, the agreement outlines terms for an immediate and permanent cessation of conflict, the reopening of key maritime routes, sanctions relief for Iran, and renewed commitments regarding Tehran’s nuclear program. The document has not yet been officially released, and both U.S. and Iranian officials have suggested that final wording could still change before a formal signing expected in Switzerland on Friday.
The proposed memorandum declares an immediate end to military actions between the United States, Iran, and their respective allies, including hostilities involving Lebanon. Both countries would commit to respecting each other’s sovereignty, territorial integrity, and internal affairs while agreeing to negotiate a final agreement within 60 days, with the possibility of an extension through mutual consent.
A major component of the draft focuses on restoring maritime trade and navigation. The United States would lift what Iran describes as a naval blockade and facilitate the return of shipping traffic to pre-war levels within 30 days. In return, Iran would take steps to reopen maritime routes between the Persian Gulf and the Sea of Oman, including clearing technical obstacles and neutralizing mines.
The agreement also proposes significant economic incentives for Tehran. The United States, alongside regional partners, would support a comprehensive economic rehabilitation and development plan valued at a minimum of $300 billion. Details of the financing and implementation mechanisms would be finalized during subsequent negotiations.
Sanctions relief forms another cornerstone of the draft. Washington would commit to ending various sanctions against Iran, including U.N., IAEA, and unilateral U.S. restrictions, according to a timetable to be agreed upon in the final deal. In the interim, the U.S. Treasury Department would issue waivers allowing exports of Iranian crude oil, petrochemical products, and related services such as banking, insurance, and transportation.
The draft also provides for the gradual release of frozen Iranian assets and restricted funds, granting Tehran broader access to financial resources as negotiations progress. The United States would issue the necessary licenses and authorizations to facilitate these transactions.
On the nuclear issue, Iran reiterates its commitment never to develop nuclear weapons. However, the document leaves unresolved the future of Iran’s stockpile of enriched uranium and other sensitive nuclear matters, stating that these issues will be addressed during negotiations for a final agreement.
Until a permanent agreement is reached, both sides would maintain the status quo. Iran would refrain from advancing its nuclear program, while the United States would avoid imposing new sanctions or increasing its military presence in the region.
The memorandum also calls for the establishment of a joint implementation mechanism to monitor compliance and oversee future commitments under the final agreement. Once assurances are received regarding the implementation of key provisions, including maritime access and sanctions waivers, negotiations would proceed on the remaining aspects of the final settlement.
The proposed final agreement would ultimately be endorsed through a binding resolution of the United Nations Security Council, giving the deal international legal backing.
While U.S. officials have described the memorandum as a political framework rather than a comprehensive agreement, its provisions signal a potentially historic shift in relations between Washington and Tehran if successfully implemented.
