Leaked US-Iran framework deal promises $300 billion fund, sanctions relief and Hormuz reopening within 30 days

The leaked framework

A 14-point draft framework agreement between the United States and Iran was published by the Saudi-funded news channel Al-Arabija and the financial service Bloomberg on Tuesday evening. The document, which neither Washington nor Tehran has officially confirmed, is expected to be signed in Switzerland on Friday. It outlines an immediate and permanent end to hostilities across all fronts, including Lebanon, with both sides and their proxies committing to cease hostile actions upon signature.

An immediate and permanent end to the war on all fronts, including in Lebanon.

Economic architecture

The draft commits the US and its partners to a reconstruction and development plan for Iran with financing of at least 300 billion US dollars. The US Treasury would grant immediate exemptions for exports of Iranian crude oil, petrochemical products and their derivatives. All types of sanctions, including unilateral US measures and those from UN Security Council and IAEA resolutions, would be lifted, though the timeline for that rollback is tied to a final agreement to be negotiated within 60 days. Iran would also gain access to frozen assets, which the US commits to making fully available.

The Hormuz chokepoint

Iran would take immediate steps to normalise commercial shipping through the Strait of Hormuz in both directions within 30 days, including removing technical obstacles and neutralising mines. The US would lift its naval blockade of Iranian ports in the Persian Gulf and restore shipping to full capacity within the same 30-day window. Within 30 days of a final agreement, US forces would withdraw from surrounding areas. The G7 leaders meeting in Evian, France, welcomed the deal and pledged to diversify supply routes, reduce Hormuz dependency and build up energy reserves.

We stand ready to contribute to its implementation.

Hostilities persist

Despite the framework, NBC News reports that Iran has launched drones at commercial vessels in the Strait of Hormus every night since the deal was signed, with US forces shooting them down before they could threaten ships or personnel. Israeli airstrikes hit Nabatieh al-Fawqa and the community of Ansarija in southern Lebanon, according to Lebanese media reports cited by The Times of Israel. The Israeli military has not commented on those strikes. Reporters Without Borders condemned what it called a targeted Israeli attack on journalist Motassem Saqf al-Hayt, who was hit in the foot by a tear gas canister while covering an army raid near Ramallah.

Political reactions

US President Donald Trump used the G7 summit to deliver unusually direct criticism of Israeli operations against Hezbollah in Lebanon. German Chancellor Friedrich Merz called the agreement a model for Ukraine, arguing that clear military superiority had enabled a diplomatic solution. The German government has prepared a draft Bundestag mandate for a possible naval deployment to the Strait of Hormus, with the cabinet potentially voting next week. Berlin intends to limit its role to mine clearance. The US Justice Department meanwhile cited the Pentagon's use of Elon Musk's xAI chatbot Grok during Iran operations in a legal filing defending the company against an environmental lawsuit in Tennessee.

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This agreement opens up a great opportunity for regional stability and for a recovery of the world economy.