Some points were made public from the Memorandum of Cooperation between the United States and Iran providing for the immediate termination of military operations, the reopening of the Straits of Hormuz, the lifting of all US sanctions and the creation of a $300 billion fund for the reconstruction and economic development of the Islamic Republic.
As quoted in BBC A meeting was held where the American side presented the basic terms of the 14-point text. According to the report, the text of the agreement sets out the framework for ending the crisis and establishing a new relationship between the two countries.
According to the text, ‘direct and permanent termination of military operations on all fronts, including Lebanon’ is foreseen. This report extends the scope of the agreement beyond the direct confrontation between Washington and Tehran, including the Lebanese dimension of the regional crisis.
The agreement also sets a clear timetable for reaching a definitive settlement. The United States and the Islamic Republic of Iran undertake to negotiate and reach a final agreement within a maximum period of 60 days, with the possibility of extending only by joint consent of both sides.
One of the most important points concerns the American naval presence in the region. The United States undertakes to lift Iran's naval blockade within 30 days. During this transitional period, ship traffic will gradually be restored to the pre-war levels, under the management of the Islamic Republic.
At the same time, Washington commits to removing its military forces from Iran's proximity within 30 days of reaching the final agreement.
Particular importance is the provision for the Straits of Hormuz, one of the most important marine energy transport corridors worldwide. The agreement provides that crossing the Straits will remain without fees for a period of 60 days.
According to a senior official involved in the discussions, Iran will then seek to cooperate not only with Oman but also with the Gulf states to create a wider and longer-term agreement regulating the operating status of the Straits of Hormuz.
An important economic aspect of the agreement is the commitment of the United States to work with regional partners to create a fund of at least $300 billion, amounting to around £24 billion.
This fund is intended for the reconstruction and economic development of the Islamic Republic of Iran, marking one of the largest economic commitments linked to a de-escalation agreement in the Middle East.
At the same time, the American side undertakes to end "all types of sanctions" imposed on Iran. The exact timetable for lifting restrictions will be set at a later stage through a specific implementation programme agreed by both sides.
At the heart of the agreement is also the issue of the Tehran nuclear programme. The two countries agree that Iran will never have a nuclear weapon.
In order to ensure the implementation of this commitment, the United States and Iran agreed to cooperate to eliminate the country's enriched nuclear material through a process of dilution and involvement on the spot, under the supervision of the International Atomic Energy Agency.
This provision is considered to be of key importance, as it is the key mechanism proposed to ensure that the Iranian nuclear programme remains exclusively of a peaceful nature.