The United States has released the full text of a 14-point Memorandum of Understanding (MoU) outlining a proposed framework for ending hostilities with Iran and negotiating a comprehensive peace agreement.
The document, known as the Islamabad Memorandum of Understanding, sets out commitments by both countries to immediately halt military operations, respect each other's sovereignty, and begin negotiations on a final agreement within 60 days.
Under the proposed framework, the United States would gradually remove restrictions affecting maritime activities around Iran and work with regional partners on a multi-billion-dollar reconstruction and economic development plan.
The agreement also outlines plans for phased sanctions relief tied to Iran's compliance with its commitments.
Iran, in turn, reaffirmed that it would not pursue nuclear weapons and agreed to work with international inspectors on arrangements for its stockpile of enriched nuclear material as part of a final deal.
The memorandum also provides for the reopening of commercial shipping through the Strait of Hormuz, with both sides committing to measures aimed at restoring safe navigation and reducing regional tensions.
The memorandum also calls for both sides to maintain the current status of Iran's nuclear programme while negotiations continue.
It provides for frozen Iranian assets to be made accessible under mutually agreed procedures and establishes a joint mechanism to monitor implementation of the agreement.
In addition, the framework proposes that any final peace agreement be endorsed through a binding United Nations Security Council resolution, giving the deal international legal backing.
The memorandum is expected to be formally signed on Friday, after which negotiations on a final agreement will begin.
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