Overview
- The White House publicly read the 14-point memorandum on Wednesday and said a formal signing is scheduled for Friday in Switzerland, though both sides can still walk away until that ceremony.
- The MOU commits Iran to restore toll-free commercial passage through the Strait of Hormuz and requires the United States to lift its naval blockade and immediately issue Treasury waivers to allow Iranian oil exports.
- A 60-day technical process supervised by the IAEA will focus on Iran’s large enriched-uranium stockpile and enrichment limits, with on-site measures such as down-blending discussed but not yet finalized.
- Economic incentives are phased and conditional: frozen Iranian assets would be released gradually, immediate oil waivers would be permitted, and a proposed $300 billion reconstruction fund would depend on performance under the talks.
- Key gaps remain that threaten durability: the MOU does not address Iran’s ballistic missiles or proxy networks, Israel was not party to negotiations and has rejected the pact, and President Trump publicly warned the U.S. could resume strikes if Iran fails to comply.