Overview
- A senior U.S. official read the 14‑point memorandum aloud on Wednesday as both sides said the MOU was electronically signed and planned a formal ceremony in Switzerland later this week.
- The pact requires the U.S. to lift its naval blockade within 30 days and calls for Iran to allow toll‑free, safe commercial passage through the Strait of Hormuz for 60 days while technical obstacles and demining are addressed.
- The MOU restates Iran’s pledge not to seek nuclear weapons and opens a 60‑day technical window, under IAEA supervision, to agree how to handle Iran’s enriched uranium stockpile including possible on‑site down‑blending.
- Economic measures include immediate oil waivers, phased release of frozen Iranian assets and a proposed private reconstruction plan of about $300 billion that would unlock as Iran meets conditions, though exact timing and funding sources remain unsettled.
- Key security issues — ballistic missiles, Iran’s support for regional proxies, the long‑term administration of the Strait and Israel’s objections — are left for later talks, making implementation fragile and leaving open the risk that military strikes could resume if commitments break down.