WASHINGTON: A historic peace document has been prepared to end the fierce war between the US and Iran for the past four months, which is officially named the Islamabad Memorandum of Understanding. This agreement has been reached with the central mediation of Pakistan, and the cooperation of Qatar, Turkey and Saudi Arabia.
According to a CNN report, the US administration has released the formal text of this 14-point agreement, under which the basic conditions of the ceasefire between the two countries have been set.
The main purpose of this agreement is to establish a temporary framework under which technical delegations from the two countries will hold detailed negotiations on permanent peace and nuclear issues over the next 60 days. The most important points and details of this agreement are as follows:
Under the first clause of the agreement, the US, Iran and all their allies, including groups in Lebanon, will be obliged to immediately and permanently stop military operations and hostilities on all fronts. Both countries will respect each other’s territorial sovereignty and integrity and will be committed to not interfering in the internal affairs of any country.
The United States will begin the process of lifting the naval blockade of Iranian ports as soon as the agreement is signed and the blockade will be completely lifted within 30 days. The Strait of Hormuz, a vital sea passage for the global economy, will be reopened to commercial shipping, but Iran will remain in control of it and will be able to collect fees from ships passing through it.
One of the most important provisions of this agreement is that the US Department of the Treasury will immediately suspend sanctions on Iranian crude oil, petrochemical products and related banking transactions and issue special waivers, which will enable Iran to immediately sell its oil on the world market. In addition, Iran’s frozen assets worth about $25 billion will also be restored in stages.
The deal includes a comprehensive plan for Iran’s economic recovery and reconstruction of war-torn infrastructure. Under the plan, at least $300 billion in funds will be secured for Iran, although US officials have made it clear that this money will not come directly from the US government, but will include capital from the private sector and other countries in the region.
Iran has reiterated its commitment that it will never develop or acquire nuclear weapons. At the same time, it will be obliged to follow a specific procedure for diluting its highly enriched uranium stockpile. 60-day technical committees will begin work to closely monitor the nuclear program and determine final regulations.
