Iran commits to no nuclear weapons in draft deal with US, lifting of oil sanctions and release of $25bn frozen assets
A draft memorandum of understanding between Washington and Tehran, revealed by Reuters, includes an Iranian pledge not to produce or acquire nuclear arms, temporary relief from oil sanctions, and the unfreezing of up to $25 billion in Iranian assets.
Core commitments
A senior Iranian official told Reuters that the final draft of the memorandum of understanding covers a wide range of issues, from Tehran's nuclear programme to the reopening of the Strait of Hormuz and US oil sanctions waivers. Under the draft, Iran commits that it will neither build nor acquire nuclear weapons. The two sides are expected to negotiate a definitive agreement within 60 days, once both approve the MoU.
The final draft of the memorandum of understanding with the US covered the nuclear programme, the reopening of the Strait of Hormuz and US oil sanctions exemptions.
Nuclear file and uranium limits
While the final deal is being worked out, Iran agrees to maintain the nuclear status quo, meaning no new uranium enrichment and no expansion of nuclear facilities. The United States, according to the official, accepts a mechanism for diluting Iran's stockpile of highly enriched uranium. The technical details of that dilution process will be discussed during the 60-day negotiation window.
Economic sweeteners
The economic section of the draft is substantial. Washington pledges not to impose any new sanctions on Iran until a final agreement is reached. For a specific period, the US will lift oil sanctions, allowing Tehran to sell crude and receive revenues. Crucially, up to $25 billion in frozen Iranian assets would be released, through direct cash transfers, regional cooperation frameworks and financial credit lines.
Strait of Hormuz reopening
The draft also tackles the security of one of the world's most critical maritime chokepoints. Iran would immediately reopen the Strait of Hormuz to all commercial vessels, while the US in turn would lift the naval blockade of Iranian ports. This pillar is seen as vital for global energy markets, given that roughly a fifth of the world's oil transits the strait.
Cautious tone from Tehran
Despite the sweeping scope of the draft, an official close to the Islamic Revolutionary Guard Corps told Iranian media that Tehran has not yet announced a final decision and that the political, legal and technical dimensions of the proposals are still under evaluation. Separately, Qatari mediators were reported to have travelled to Tehran on the morning of 14 June to help push the agreement forward.
