US President Donald Trump and Iranian President Masoud Pezeshkian virtually signed a 14-point memorandum of understanding (MoU). This latest MoU was signed to end hostilities between the two countries, reopen the Strait of Hormuz, and launch a 60-day process to negotiate a final agreement on sanctions and Iran’s nuclear programme. At present, United States President Donald Trump is attending the G7 Summit in Evian. Citing a White House official, CNN reported that Trump personally signed the memorandum on Wednesday while meeting French President Emmanuel Macron in Paris.
What is the 14-point US-Iran MoU virtually signed by Donald Trump and Masoud Pezeshkian?
The agreement, which was also signed by Pezeshkian, immediately came into effect. According to a CNN report, the detailed document with the title, “Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran” was released by the US after a controversial backlash due to the lack of disclosure concerning the contents of the agreement.
“This is fundamentally an agreement that allows us to open the Strait of Hormuz immediately, commit the Iranians to destroying the nuclear dust, and then gives us a dial where if the Iranians dial up their good behavior, we respond by dialing up the kind of economic and sanctions relief that can make them a more prosperous country,” the senior US official was quoted as saying to CNN.
What does the agreement say about reopening the Strait of Hormuz?
As per the senior US administration official, the agreement was described as a mechanism to immediately reopen the Strait of Hormuz, and address Iran’s stockpile of enriched uranium.
As reported by Press TV, Esmaeil Baghaei, the spokesperson of the Foreign Ministry of Iran, said that both parties signed the Memorandum of Understanding. He added that discussions have been ongoing for a while now with Omani officials and other nations about the coordination of “managing” the Strait of Hormuz (SHR).Baghaei said safe maritime passage would be ensured while preserving “the sovereignty and authority of the Islamic Republic of Iran over the Strait of Hormuz.
Here is the first point of the document, titled “Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran”, as it was read out:
The United States of America and the Islamic Republic of Iran and their allies in the current war are signing this MOU to declare the immediate and permanent termination of military operations on all fronts, including in Lebanon, and undertake from now on not to initiate any war or any military operation against each other, and to refrain from the threat or use of force against each other, and ensuring the territorial integrity and sovereignty of Lebanon. The final deal will confirm the permanent termination of the war on all fronts, including in Lebanon and other provisions of this paragraph.
The 14-point agreement includes an immediate and permanent cessation of military operations, including in Lebanon, and a pledge to conclude negotiations on a final deal within 60 days, extendable by mutual consent.Under the memorandum, the United States will begin removing its naval blockade and related restrictions, while Iran will facilitate the safe passage of commercial vessels through the Strait of Hormuz free of charge for an initial 60-day period.
One of the key points included in the document, titled “Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran”, reads out as
The United States of America undertakes with regional partners to develop a definitive, mutually agreed plan with at least USD 300 billion for the reconstruction and economic development of the Islamic Republic of Iran. The mechanism for the implementation of this plan will be finalized as part of a final deal within 60 days. All required licenses, waivers and permissions needed for the relevant financial transactions will be granted by the United States of America.
The final deal will be endorsed by a binding UNSC resolution, reads the document, as reported by CNN.
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