We Now Know What's Inside the Iran Agreement

A senior United States official on background read out the memorandum of understanding between the United States and Iran on Wednesday afternoon with reporters, including Townhall.

The MOU is expected to be signed in Switzerland on Friday at a ceremony attended by Vice President JD Vance.

“We’re not going to be taking their word for anything,” a senior U.S. official said when asked about “compliance” for Iran’s adherence to the deal, particularly when it comes to nuclear development, adding that the U.S. will “work very closely with the International Atomic Energy Agency [IAEA].”

An official explained that the timing to release it on Wednesday as opposed to sooner was part of an agreement with Iran.

“It really comes to trying to be a good partner with them in this new relationship,” the official said.

Here’s a detailed summary of the 14-point agreement, as quoted from a senior official as closely as possible:

The United States of America, and Islamic Republic of Iran, and their allies in the current war, by signing this MOU, declare the immediate and permanent termination of military operations on all fronts, including in Lebanon, and undertake from now on not to initiate any war or any military operation against each other, and to refrain from the threat or use of force against each other, and ensuring the territorial integrity and sovereignty of Lebanon. The final deal will confirm the permanent termination of the war on all fronts, including in Lebanon, and other provisions of this paragraph.
The United States of America, the Islamic Republic of Iran, undertake to respect each other's sovereignty and territorial integrity, and to refrain from interfering in each other's internal affairs.
The United States of America, and the Islamic Republic of Iran commits to negotiating and achieving the final deal in maximum 60 days – extendable with mutual consent.
Immediately upon the signing of this MOU, the United States of America will begin the removal of its naval blockade and any disturbances or impediments against the Islamic Republic of Iran, and will fully end the Naval blockade within 30 days. During this period, the traffic of vessels will be in proportion to the numbers of pre-war traffic being restored by the Islamic Republic of Iran, the United States of America, further undertakes to remove its forces from the proximity of the Islamic Republic of Iran within 30 days after the final deal.
Upon the signing of this, MOU, the Islamic Republic of Iran will make arrangements using its best efforts for the safe passage of commercial vessels with no charge for 60 days only from the Persian Gulf to the Sea of Oman, and vice versa. The traffic of commercial vessels will immediately start in considering the needs for removing the technical and military obstacles and de-mining by the Islamic Republic of Iran will be initiated within 30 days, the Islamic Republic of Iran will conduct dialogue with Sultaness of Oman to define the future administration and maritime services in the Strait of Homruz discussion with other Persian gulf [...] states in line with the applicable international law and the sovereign rights of coastal states of the Strait of Hormuz.
The United States of America undertakes with regional partners to develop a definitive mutually agreed plan with at least USD 300 billion for the reconstruction and economic development of the Islamic Republic of Iran. The mechanism for the implementation of this plan will be finalized as part of a final deal within 60 days. All required licenses, waivers, and permissions needed for the relevant financial transactions will be granted by the United States of America.
The United States of America undertakes to terminate all types of sanctions against the Islamic Republic of Iran, including the United Nations Security Council Resolution, i.e. IAEA Board of Governor's Resolution, and all unilateral U.S. sanctions, primary and secondary, and an agreed upon schedule as part of the final deal.
The Islamic Republic of Iran reaffirms that it shall not procure or develop nuclear weapons. The United States of America, and the Islamic Republic of Iran, have agreed to resolve the disposition of stockpile enriched material, pursuant to a mechanism that will be mutually agreed upon, in accordance with the schedule mentioned in paragraph 7, with a minimum methodology to be down blending on site, under the supervision of the IAEA. The two parties also agreed to discuss the issue of enrichment and other mutually agreed matters related to the economical public of Iran's nuclear need, based on the satisfactory framework being agreed upon in the final deal. The final deal will confirm the provisions of this paragraph. The United States of America and the Islamic Republic of Iran, acknowledge the critical importance of the nuclear issues above mission, and express their attention to immediately address these issues in the negotiation in order to achieve mutual agreement on them.
Pending the final deal, the United States of America and the Islamic Republic of Iran agree to maintain the status quo. The Islamic Republic of Iran will maintain the current status quo of its nuclear program, and the United States of America will not impose any new sanctions and will not deploy additional forces in the region.
The United States of America undertakes, but immediately upon the signing of this MOU, and until the termination of sanctions, the U.S. Department of Treasury will issue waivers for the export of Iranian crude oil, petroleum products and derivatives and all associated services including banking, transactions, insurances, transportation, etc.
The United States of America undertakes to make fully available for use, the frozen, or restricted funds, and assets of the Islamic Republic of Iran upon the implementation of the MOU, the United States of America and the Islamic Republic of Iran will usually agree on the procedures related to the relief of these funds during the negotiation. Such funds, whether retained in the original accounts or transferred, government may be fully usable for payment to any ultimate beneficiary designated by the Central Bank of the Islamic Republic of Iran. The United States of America undertakes to issue all necessary licenses and authorizations accordingly.
The United States of America and the Islamic Republic of Iran agree that an executive mechanism will be established to monitor the successful implementations of MOU and the future compliance of the final deal.
After signing the MOU, and subject to the beginning of the implementation of paragraphs 1, 4, 5, 10, and 11 of this MOU, and the continuing implementation of these measures, the United States of America, and the Islamic Republic of Iran, will start negotiations regarding the final deal exclusively on the other paragraphs.
The final deal will be endorsed by a binding [United Nations Security Council] resolution.