US and Iran announce final draft of memorandum of agreement to end hostilities, Bloomberg reports

On the 16th, Bloomberg reported in detail the final draft of the memorandum of understanding agreed between the United States and Iran to end the hostilities. As a condition of the agreement, Iran announced that it would not produce nuclear weapons. Measures will be taken to clear mines and ship navigation in the Persian Gulf, including the Strait of Hormuz, will be restored to pre-war levels within 30 days. The United States will develop a recovery plan for Iran with regional partners and will secure at least $300 billion in funding.

The United States and Iran are scheduled to hold a memorandum of understanding signing ceremony in Switzerland on the 19th. According to a senior U.S. government official, U.S. President Donald Trump, Vice President Vance, and Iran's National Assembly Speaker Ghalibaf have electronically signed the deal.

According to Bloomberg, the final draft of the memorandum consists of 14 items. The United States and Iran declare an "immediate and permanent end to the war on all fronts," including in Lebanon, where Israel is attacking the Shiite Islamic group Hezbollah. They promise to respect each other's sovereignty and territorial integrity and not to interfere in their internal affairs.

Following the signing of the memorandum, there will be a period of negotiations to place strict limits on Iran's nuclear program. Both sides commit to negotiations and a final agreement within a period of up to 60 days. However, the period can be extended by mutual agreement.

Regarding the Strait of Hormuz, the US military immediately lifted its naval blockade after signing the memorandum of understanding. Withdraw U.S. forces from surrounding areas within 30 days of final agreement.

The draft also includes the lifting of U.S. sanctions against Iran. They promised to ``lift all sanctions'' according to the schedule set out in the final agreement. Between the signing of the memorandum and the lifting of sanctions, the U.S. government will exempt Iranian exports of crude oil, petrochemical products, and other products from sanctions. Iran's frozen assets will be "released and made fully available," it said, but no specific timeline was given. [Thonon (near Evian, eastern France) Issei Suzuki]