Reuters reported on June 14, citing senior Iranian officials, that under a draft memorandum of understanding reached with the United States, Tehran agrees neither to produce nor acquire nuclear weapons. The draft covers several areas, including Iran’s nuclear activities, oil sanctions, maritime access and arrangements for frozen assets. The report was relayed by CCTV International News.
Nuclear status quo and enriched uranium arrangements
According to the report, before a final agreement is reached, Iran agrees to maintain the current status of its nuclear program. The terms include no uranium enrichment and no expansion of nuclear facilities. In the draft, the United States agrees that Tehran will dilute its stockpile of highly enriched uranium inside Iran, while the relevant mechanism will be discussed over the next 60 days.
The draft also says the United States will waive oil sanctions on Iran for a specific period, allowing Iran to sell oil and obtain revenue. The report does not disclose the duration of the waiver, the scale of oil sales, or the details of how the revenue would be received.
Strait of Hormuz access and $25 billion asset release
On maritime access, the draft states that Iran will immediately reopen the Strait of Hormuz to all commercial vessels. At the same time, the United States will lift its maritime blockade. The Strait of Hormuz is specifically named in the reported draft, with commercial shipping access and the lifting of the blockade listed as corresponding obligations.
On assets, the United States agrees to unfreeze $25 billion in Iranian assets. The methods listed include direct cash transfers, cooperation with regional countries and credit lines. The draft further states that, before a final agreement is reached, the United States agrees not to impose any new sanctions on Iran. The report does not mention a timetable for signing the final agreement or state whether the draft has entered a formal signing process.