A preliminary agreement between Iran and the United States features mutual pledges to remove oil sanctions and restore shipping through the Strait of Hormuz, Iranian news agency Mehr reported. The draft sets specific preconditions for progressing to final talks, including the release of Iranian funds and the suspension of certain restrictions.
The 14-point memorandum outlines that formal negotiations will only proceed once Iran receives access to half of its currently frozen financial assets. Additional requirements include the halting of U.S. oil sanctions on Iran and the termination of an existing naval blockade.
According to Mehr News, the document also stipulates that all U.S. military personnel depart from Iranian territory. Furthermore, the United States and partner nations are expected to submit detailed proposals for the reconstruction of Iran, with commitments totalling a minimum of $300 billion.
The agreement, as described in the report, mandates U.S. action to end both sanctions and military presence, alongside Iraqi obligations to open the Strait of Hormuz to maritime traffic within a month. Iran is set to obtain $24 billion in funds during a 60-day negotiation window, according to the agency.
