US releases official agreement with Iran. Read the 14-point text

Key Points:

• The United States officially released the 14-point Islamabad Memorandum of Understanding (MOU) with Iran, outlining steps to end hostilities, reopen the Strait of Hormuz, ease financial restrictions, and set frameworks for future nuclear negotiations.
• Key provisions include the immediate removal of the US naval blockade within 30 days, safe passage for commercial vessels through the Strait of Hormuz for 60 days without charge, and a commitment to negotiate a final deal within 60 days.
• The MOU commits the US to lifting all sanctions on Iran on an agreed schedule and releasing frozen Iranian assets, while Iran reaffirms it will not develop nuclear weapons and agrees to a "minimum methodology" for neutralizing its enriched uranium stockpile under IAEA supervision.
• The document also calls for a $300 billion reconstruction and economic development plan for Iran, to be developed with regional partners, and establishes mechanisms to monitor compliance and implement the final agreement, which will be endorsed by a binding UN Security Council resolution.
• Differences between the draft and final text include added details on uranium down-blending and commercial vessel transit fees; US officials characterize the MOU as a political framework, with critical nuclear commitments to be finalized in subsequent negotiations.