Washington and Tehran are expected to sign a memorandum of understanding in Switzerland on 19 June which will form the basis for 60-day talks aimed at ending the war and imposing new strict restrictions on Iran's nuclear programme.

The draft 14 Points, which came to the knowledge of Bloomberg, describes a broad framework of commitments involving cease-fire, lifting sanctions, reopening the Straits of Hormuz, financial support for Iran and new rules for its nuclear programme.

Permanent termination of the war
The first article provides that the Islamic Republic of Iran and the United States, together with their allies, declare by signing the memorandum the immediate and permanent end of the war on all fronts, including Lebanon.

Both sides commit themselves not to proceed in the future to hostile actions and refrain from threats or violence against one another.

At the same time, they undertake to respect sovereignty and territorial integrity on either side, as well as not to interfere in the internal affairs of the other side.

Deal within 60 days
The draft provides that negotiations on the final agreement will be completed within 60 days, with the possibility of extending only by mutual consent.

Refunctioning the Straits of Hormuz
The central point of the agreement is the full restoration of navigation Ormuz Straits.

The United States undertakes to immediately lift the naval blockade and restore within 30 days the smooth circulation of ships at pre-war levels.

In addition, they commit to withdraw their military forces from the surrounding areas within 30 days of the signing of the final agreement.

Iran will, for its part, take immediate measures to ensure that the transit of merchant ships between the Persian Gulf and the Oman Sea also returns to pre-war levels within a month, including the demining of sea corridors.

$300 billion package for Iran
One of the most impressive points in the draft is the commitment of the US and their regional allies to establish an integrated economic reconstruction and development programme for Iran.

The plan provides for funding of at least $300 billion, while the implementation mechanism will be established under the final agreement.

Gradually lifting all sanctions
The United States commits itself to proceed, on the basis of a timetable agreed later, to abolish all sanctions imposed on Iran.

This includes both United Nations and International Atomic Energy Agency sanctions and primary and secondary American sanctions.

The nuclear programme
Tehran repeats in the draft that it will never acquire nuclear weapons.

Both sides agree that issues such as stocks of enriched material, Iran's nuclear needs and all relevant technical details will be regulated in the final agreement.

Until then the existing regime will be maintained: Iran will not extend its nuclear programme and the United States will not impose new sanctions or strengthen their military presence in the region.

Direct relaxation of restrictions on oil exports
The U.S. Treasury will issue immediately after signing exemptions allowing exports of Iranian crude oil, petrochemical products and their derivatives.

The exceptions will also cover banking services, insurance, transport and any other relevant activity.

Release of frozen funds
The agreement also provides for the release of frozen or frozen assets of Iran, as negotiations on the final agreement proceed.

These funds will be made fully available for use by the Central Bank of Iran, while the US undertakes to issue all the necessary permits.

Monitoring mechanism and international registration
The two countries agree to the creation of a special monitoring mechanism for the implementation of the final agreement and the fulfilment of the commitments to be made.

The final text of the agreement is to be adopted through a binding UN Security Council resolution, giving international legal force to its provisions.

Source: newmoney. gr