US releases 14-point agreement with Iran

TT

Published 21.11

 

US President Donald Trump on his way to the presidential plane Air Force One at Geneva airport after the G7 summit in Évian-les-Bains, France. Photo: Martial Trezzini/Keystone/Pool Via AP/TT

The US has released the draft agreement that is expected to be signed by Iran and the US on Friday.

The 14-point document was read out by a US government representative in connection with President Donald Trump's press conference on Wednesday - and after widespread criticism that the text was kept secret.

Parts of the agreement have previously been leaked to the media, and the document largely contains the information that has been previously published. The agreement stipulates that a 60-day period for negotiations begins when it is signed.

Below is a summary of the document read.

The agreement begins with the US and Iran ceasing military operations on all fronts, including in Lebanon, and ensuring Lebanon's territorial sovereignty.

The US and Iran will respect the sovereignty and territorial integrity of their respective countries, and avoid interfering in each other's internal affairs.

The US and Iran will continue to negotiate to reach a final agreement within 60 days - with a possible extension if both parties agree.

In connection with the signing of the declaration of intent, the US will begin lifting its blockade and other obstacles against Iran. The blockade will be completely lifted within 30 days, according to the agreement, which then adds that maritime traffic will return to the level that applied before the war. The US will withdraw its military forces from Iran's vicinity within 30 days after a final agreement is signed.

The fifth point concerns maritime traffic in the Strait of Hormuz, and that Iran ensures that traffic is safe and free from charges.

In the sixth point, the United States promises to secure, with regional partners, at least $300 billion for reconstruction and economic growth in Iran. The efforts will be determined in further negotiations, and all transactions and permits will be granted by the United States.

The United States undertakes to end all kinds of sanctions targeting Iran, including those decided by the UN Security Council.

In the eighth point, Iran reiterates that the country will not acquire or develop nuclear weapons, and that enriched uranium will be diluted under the supervision of the UN nuclear agency IAEA. Negotiations on issues related to nuclear energy in Iran are postponed to the future.

Until a final agreement is reached, the United States and Iran will maintain the current status quo. The United States will not impose any new sanctions and will not strengthen its military presence in the region.

The US Treasury Department allows crude oil and petroleum products to be exported from Iran, and the US lifts bans on export-related services such as banking, insurance and transportation.

The US is preparing to fully release Iranian assets that have been frozen or blocked. The procedure is to be negotiated between Iran and the US.

The twelfth point concerns the procedure for monitoring the agreement on a declaration of intent and subsequent agreements.

Point 13 states that negotiations will begin on the issues that have not been finalized.

The 14th and final point states that the agreement must be approved by the UN Security Council.