Ceasefire, oil waivers and nuclear limits anchor 60-day path to final US-Iran deal

The United States released the full text of US-Iran memorandum of understanding (MOU) following weeks of negotiations, potentially ending the conflict over Iran's nuclear weapons.
Washington and Tehran have agreed in principle to an MOU aimed at immediately ending military hostilities and negotiating a comprehensive "final deal" within a maximum of 60 days (extendable by mutual consent).
The agreement covers ceasefire, sanctions relief, naval issues in the Strait of Hormuz, nuclear commitments, economic reconstruction, and future compliance mechanisms.
Immediate and permanent termination of all military operations on all fronts, including Lebanon.
No future initiation of war, military operations, or threats of force between the two sides and their allies.
Respect for each other’s sovereignty, territorial integrity, and non-interference in internal affairs.
Both sides agree to maintain the current status quo pending the final deal (Iran freezes its nuclear program advances; US imposes no new sanctions or additional forces).
US to immediately begin lifting its naval blockade, fully ending it within 30 days.
Iran to facilitate safe, free passage of commercial vessels through the Strait of Hormuz for 60 days (no charges), with full operations resuming within 30 days after de-mining and technical clearance.
Iran will engage Oman and other Gulf states on long-term administration of the Strait in line with international law.
US commits to terminating all sanctions (UNSC, IAEA, unilateral primary & secondary) on an agreed schedule as part of the final deal.
Immediate waivers for Iranian oil exports, petroleum products, and related services (banking, insurance, shipping).
Release and full usability of frozen Iranian funds/assets, with procedures to be mutually agreed.
US, with regional partners, to develop a plan of at least $300 billion for Iran’s reconstruction and economic development.
Implementation mechanism to be finalized in the final deal.
Iran reaffirms it will not procure or develop nuclear weapons.
Stockpiled enriched material to be addressed (minimum: down-blending on site under IAEA supervision).
Future enrichment levels and other nuclear matters to be negotiated in the final deal.
Final comprehensive deal to be negotiated and achieved within 60 days (extendable).
Executive monitoring mechanism to oversee implementation.
Initial implementation of ceasefire, blockade lift, oil waivers, and funds release will allow negotiations on remaining issues.
The final deal will be endorsed by a binding UN Security Council resolution.
This MOU functions as a short-term truce and confidence-building framework that trades immediate de-escalation and sanctions/oil relief for Iran in exchange for a ceasefire (especially in Lebanon), nuclear restraints, and a pathway to a larger normalisation/reconstruction agreement.
All major commitments are subject to successful negotiation of the “final deal".