The official signing of the peace agreement between the US and Iran will take place on June 19 in Switzerland, and it should put an end to the nearly four-month-long large-scale war in the Middle East, which began in late February, CNBC reported.
The mediators in negotiating the document were Pakistan, Qatar, Egypt, Saudi Arabia and Turkey. Following the initial announcement of the framework by US President Donald Trump and Pakistani Prime Minister Shehbaz Sharif, the Iranian Foreign Ministry also officially confirmed the agreed text of the 14-point memorandum of understanding.
From June 15, an “immediate and permanent cessation of hostilities on all fronts“, including in Lebanon, will come into effect.
The document serves as an interim framework, opening a 60-day window for technical negotiations until a final agreement is reached.
Iran has committed to immediately opening the strategic Strait of Hormuz to free passage for all commercial vessels and to abolish navigation fees.
Within 30 days, Tehran must remove the mines placed there.
The United States will end its naval blockade of Iranian ports immediately after the signing and commit to withdrawing its military forces located in the immediate vicinity of Iran.
Washington agrees to unfreeze and release $25 billion in Iranian assets through direct transfers, financial credit lines, and regional cooperation.
The United States will provide temporary exemptions from sanctions on Iranian oil, allowing the country to once again export raw materials and receive legitimate revenues. The White House will not impose any new restrictions until the final agreement is finalized.
The full lifting of US and UN sanctions will occur on schedule after the signing of the final agreement.
An international plan for Iran's economic development and reconstruction will be prepared in coordination with regional allies.
Tehran explicitly confirms that it will not produce, buy or acquire nuclear weapons.
Until a final agreement is reached, Iran will maintain the current state of its program, halting further uranium enrichment and expanding nuclear capabilities.
The US agrees that Iran will reduce (dilute) its accumulated stocks of highly enriched uranium directly on its territory, with the technical mechanisms for this to be agreed upon in the coming 60 days.
Despite the diplomatic breakthrough, experts and politicians express moderate caution. Israel expresses deep dissatisfaction with the parameters of the deal, as the memorandum does not address the long-term disarmament of groups such as Hezbollah and Hamas.
Within the US, hawks from the Republican Party and senators (such as Lindsey Graham) have already demanded that the agreement must undergo a mandatory review and vote in Congress.