What's in Iran deal US President Trump says he is ready to sign

Speaking on condition of anonymity, a senior Iranian official said a draft memorandum of understanding covers a range of issues, including Iran's nuclear programme, the reopening of the Strait of Hormuz and US sanctions relief.

In Short

• Deal proposes reopening Hormuz, easing the US naval blockade
• Washington to pause fresh sanctions on Iran
• Iran to get temporary oil waivers as part of deal

Even as there are no signs of a deal being signed on Sunday, contrary to US President Donald Trump's claim a day earlier, a senior Iranian official has shared the broad contours of a potential agreement under discussion between Tehran and Washington.

Speaking to Reuters on condition of anonymity, the official said a draft memorandum of understanding covers a range of issues, including Iran's nuclear programme, the reopening of the Strait of Hormuz and US sanctions relief.

The official added that negotiations on a comprehensive final agreement would continue for 60 days after the memorandum is signed.

According to the Iranian official, the draft memorandum includes the following provisions:

REOPENING STRAIT OF HORMUZ

The most significant part of the agreement deals with the reopening of the Strait of Hormuz for global traffic. According to the Iranian official, Iran would be required to immediately reopen the Strait of Hormuz while the United States would begin lifting its naval blockade on Iranian ports.

The easing of the US blockade, which began on April 17, would commence as soon as the memorandum is signed and would be completed within 30 days, the official said.

Moreover, once a deal is reached, the proposal would include the demining of the waterway, which is a critical transit route for at least one-fifth of the world’s energy supplies.

ECONOMIC RELIEF AND SANCTIONS EASING

Under the proposed framework, the United States would refrain from imposing any new sanctions on Iran while negotiations on a final agreement remain underway.

Following the conclusion of a comprehensive deal, Washington and its allies would begin lifting US and United Nations sanctions on Iran according to a mutually agreed timeline. The proposal also includes a temporary waiver of US oil sanctions, allowing Tehran to resume oil exports and access related revenues.

In addition, the United States would facilitate the release of approximately $25 billion in frozen Iranian assets through a combination of direct transfers, regional financial cooperation and credit mechanisms.

The framework further envisages the preparation of a reconstruction and economic development plan for Iran by the United States and its regional partners. The plan would be negotiated with Tehran and finalised within 60 days.

NUCLEAR COMMITMENTS

Under the proposed agreement, Iran would formally commit to neither developing nor acquiring nuclear weapons.

Pending a final settlement, Tehran would maintain the current status of its nuclear programme and refrain from further uranium enrichment or the expansion of nuclear facilities.

The United States would also allow Iran, under a future comprehensive agreement, to dilute its existing stockpile of highly enriched uranium within the country.

Key issues relating to Iran's nuclear programme, including future enrichment activities and the handling of its stockpile of highly enriched uranium, would be negotiated during the 60-day period following the signing of the memorandum and incorporated into a final agreement.

TENSIONS AMID HOPES OF DEAL

Even as the US and Iran appear to be moving toward an agreement, clashes have continued, with the US military maintaining its blockade on Iran while seeking to loosen Tehran’s control over the Strait of Hormuz.

Early on June 13, US forces shot down multiple Iranian drones reportedly heading toward the strategic waterway.

Israel, which is not a party to the proposed deal, said on Sunday that it had struck Hezbollah targets in Beirut’s southern suburbs after the Iran-backed group fired three projectiles into northern Israel.

The exchange underscores the fragile nature of the negotiations, with Israel asserting that it will retain operational freedom in Lebanon, while Tehran has made a full ceasefire in Lebanon a key demand.

Israeli Prime Minister Benjamin Netanyahu has also clashed with US President Donald Trump over Washington’s reported pressure on Israel to curb military operations in Lebanon to facilitate talks with Tehran.

- Ends