Iran’s Supreme National Security Council has finalised the text of a proposed 14-point peace Memorandum of Understanding (MoU), which is expected to be signed in Geneva on June 19, according to Iranian officials.
The draft agreement contains a broad framework of political, economic and security measures aimed at reducing tensions and paving the way for a long-term settlement between the parties involved.
Under the proposed terms, military operations, including those linked to Lebanon, would be permanently halted. The memorandum also calls for the immediate and complete lifting of naval blockade measures as part of efforts to ease regional tensions.
According to details released by Iranian sources, restrictions on Iranian oil and petrochemical exports would be suspended, allowing the country to expand its energy trade and strengthen economic recovery.
The framework further proposes a reconstruction package worth at least $300 billion to support Iran’s rebuilding efforts. In addition, around $24 billion in frozen Iranian assets would be released under the agreement.
As a confidence-building measure ahead of formal negotiations, the United States would reportedly release $12 billion in frozen funds before talks begin.
Iranian officials said the memorandum is scheduled to be formally signed in Geneva on Friday, June 19.
Also read: PM Shehbaz announces peace deal between US-Iran, signing ceremony to be held on June 19
“The deal with Iran is now complete, congratulations to all”: US President Trump
The US President, Donald Trump, has also announced a deal with the Islamic Republic of Iran and has congratulated all on this.
In his post on Truth Social, he said, “The deal with the Islamic Republic of Iran is now complete. Congratulations to all!”
The US President also asked the military forces to immediately remove the US Naval blockade at the Strait of Hormuz.
Trump added that I fully authorise the toll-free opening of the Strait of Hormuz, and hereby authorise the immediate removal of the US Naval blockade ships.
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