US publishes 14-point Iran peace protocol: uranium dilution, $300bn reconstruction fund, Strait of Hormuz reopening
Washington on Wednesday published the full text of a US-Iran protocol that pledges an immediate ceasefire, uranium stockpile dilution under IAEA oversight, and a $300 billion reconstruction package, ahead of Friday's signing in Geneva.
A 14-point protocol made public
On Wednesday, US officials read out the full text of the memorandum of understanding with Iran during a press call. The document, expected to be signed in Geneva on Friday 19 June, lays out 14 points spanning military, maritime, nuclear and economic measures. A final accord must be negotiated within 60 days.
The fact that they accept this is a major, truly major victory for the United States.
Immediate ceasefire and territorial guarantees
The protocol opens with an immediate and permanent cessation of hostilities on all fronts, explicitly including Lebanon. Both sides pledge to refrain from any military action or threat, and to guarantee Lebanon's territorial integrity and sovereignty. The final deal will confirm the permanent end of the war.
Naval blockade and Strait of Hormuz
The US commits to begin lifting the naval blockade on Iran upon signature and to end it fully within 30 days. During that period, shipping traffic will resume proportionally as Iran restores pre-war volume. In parallel, Iran will “deploy its best efforts” to guarantee the safe and free passage of commercial vessels between the Persian Gulf and the Gulf of Oman for 60 days. Iran will also enter talks with the Sultanate of Oman and other Gulf states on longer-term governance of the waterway.
- Protocol text read to journalists by US officials
- Formal signature in Geneva, Switzerland
- End of US naval blockade (within 30 days of signature)
- Final accord deadline; Iran's safe-passage guarantee ends; sanctions lifted if deal reached
Nuclear file: dilution under IAEA supervision
Tehran reiterates it will not seek or develop nuclear weapons. The two countries will negotiate a mechanism to treat Iran’s enriched uranium stocks, with at least on-site dilution under IAEA supervision. A senior US official described the commitment as “a major, truly major victory for the United States,” adding that the parties will work out the “at minimum” destruction path.
Economic reconstruction and sanctions relief
Washington will launch a plan with regional partners for a fund of at least $300 billion for Iran’s reconstruction and economic development. The official noted that the US is not obliged to contribute a cent to the fund, but easing sanctions could allow, for example, Emirati companies to build a power plant in Iran. Iran may resume oil sales immediately after the protocol is signed. Once the final accord is reached, all categories of sanctions, UN Security Council resolutions, IAEA board decisions, and US primary and secondary sanctions, will be lifted on a mutually agreed timetable.
Next steps and ratification
After Friday’s signature, a 60-day negotiation window opens. The final text will need approval through a UN Security Council resolution. The US also commits to withdraw its forces from around Iran’s borders within 30 days of the final agreement.
