CNN has published a 14-point draft agreement between the United States and Iran, outlining the framework for de-escalating tensions and opening a new phase of cooperation between the two countries.
According to the document, the US will allow Iran to sell oil and petrochemical products, while Tehran will be able to access a $300 billion development fund, provided it honors its commitments regarding its nuclear program. The draft, however, does not clarify the fate of Iran’s highly enriched uranium.
CNN notes that the document may not represent the final form of the agreement, as last-minute revisions remain possible.
Key Terms of the Draft
The first article calls for the immediate and permanent cessation of hostilities on all fronts, including Lebanon, along with a commitment from both sides to refrain from any hostile action or threat of force. The US and Iran also agree to respect each other’s sovereignty and territorial integrity, with no interference in internal affairs.
The third article stipulates that the two countries must finalize the agreement within 60 days, with the possibility of an extension by mutual consent. In the meantime, the US commits to lifting its naval blockade and withdrawing forces from surrounding areas, while Iran will ensure the smooth resumption of navigation in the Persian Gulf.
Economic and Energy Dimensions
Under the draft, the United States and its regional partners will establish an economic recovery and development plan for Iran, funded to the tune of at least $300 billion. The US will also gradually lift all sanctions, including those imposed by the UN Security Council and the International Atomic Energy Agency, as well as unilateral measures.
Washington further commits to issuing waivers for the export of Iranian oil and petrochemicals, along with the associated banking and insurance services. In addition, Iran’s frozen assets will be unfrozen and made available to the country’s Central Bank.
Nuclear Program and Next Steps
Iran reaffirms that it will never produce nuclear weapons, while both sides will address matters related to enriched material and Iran’s nuclear needs within the framework of the final agreement. Until then, the status quo on Iran’s nuclear program will be maintained, with no new sanctions imposed or US military forces reinforced in the region.
The draft also provides for the creation of a monitoring mechanism to oversee implementation of the agreement, and the final version is set to be ratified through a binding UN Security Council resolution.
