The United States and Iran, with Pakistan acting as mediator, have outlined the key terms of a preliminary agreement they say will bring an end to the war between the two countries.
TIMELINE AND STRUCTURE OF THE DEAL
Pakistan’s Prime Minister Shehbaz Sharif announced that both nations have declared an immediate and permanent halt to all military operations. The formal memorandum of understanding is scheduled to be signed in Switzerland on Friday, after which Iran’s Deputy Foreign Minister Kazem Gharibabdi confirmed it will be made public.
Both sides have stated that the Strait of Hormuz will begin reopening and the U.S. naval blockade on Iranian ports will start to be lifted as soon as the document is signed. More contentious issues — including Iran’s nuclear program and existing U.S. sanctions — will be addressed through negotiations over the following 60 days.
STRAIT OF HORMUZ AND PORT BLOCKADE
U.S. President Donald Trump announced that the Strait of Hormuz would reopen Friday and that he had ordered the blockade on Iranian ports to be lifted. A senior Iranian official confirmed the strait would be reopened to all commercial vessels upon signing of the memorandum. Iran’s semi-official Fars news agency reported that under the agreement, marine traffic through the strait would be managed by Iran in coordination with Oman.
IRAN’S NUCLEAR PROGRAM
Both countries have stated that Iran agrees it will neither develop nor obtain nuclear weapons — a commitment Tehran has made repeatedly over the past several decades. The senior Iranian official said that, pending a final agreement, Iran would freeze its nuclear activities, halting further uranium enrichment and stopping any expansion of nuclear facilities.
The official also said the U.S. agreed that Iran could dilute its stockpile of highly enriched uranium inside Iran as part of a future comprehensive agreement. Trump said Saturday there was no immediate urgency to remove Iran’s nuclear material from the country, stating the U.S. would retrieve it “when all is calm.” He also said any final deal would include a strong inspections regime, though he offered no specifics.
U.S. Senator Lindsey Graham stated that any final agreement on Iran’s nuclear program would need to be reviewed and approved by Congress.
SANCTIONS AND FINANCIAL TERMS
The senior Iranian official said the U.S. agreed not to impose any new sanctions on Iran until a final deal is reached. The official added that Washington would waive oil sanctions on Iran for a set period of time, and that once a final agreement is in place, all U.S. and U.N. sanctions would be lifted on an agreed schedule.
The official also said the U.S. agreed to release $25 billion in frozen Iranian assets through a combination of direct cash transfers, cooperation among regional countries, and financial credit lines. Additionally, Washington and its regional allies would develop a reconstruction and development plan for Iran, to be negotiated with Tehran within 60 days.
Trump, however, said Iran would not receive direct cash payments, though he acknowledged sanctions could potentially be lifted.
LEBANON
Prime Minister Sharif said the permanent halt to military operations would also apply to Lebanon. Iran’s Supreme National Security Council Secretariat stated that military operations, including those in Lebanon, would stop permanently beginning Monday night.
Iran’s Foreign Minister Abbas Araqchi called for a complete end to Israeli military strikes against Lebanon, saying the United States bears responsibility for carrying out the terms of the framework deal. Israel’s Defense Minister Israel Katz, meanwhile, said Israeli forces would remain in security zones they have taken in Lebanon, Syria, and Gaza, and noted that Israeli Prime Minister Benjamin Netanyahu had made that position clear to Trump.
