Draft U.S.-Iran agreement unveiled...14 articles released

[Financial News New York = Lee Byung-chul, correspondent]  A draft of the memorandum of understanding that U.S. President Donald Trump and Iran are set to sign has been made public. The United States has agreed to allow Iranian oil exports and the use of frozen assets, and it has also pledged to help raise at least $300 billion for reconstruction and development. However, the issue of how to handle highly enriched uranium, the key sticking point, has been pushed to the final negotiations and will remain the biggest variable in the next 60 days of talks.
Reuters and CNN reported on the U.S.-Iran agreement on the 17th local time. The draft consists of 14 articles, and the two sides will begin 60 days of negotiations for a final deal with a signing ceremony in Geneva, Switzerland, on the 19th.

Article 1 of the agreement states that the United States, Iran, and their allies will declare an immediate and permanent end to the war on all fronts, including the Lebanon front. The two sides also agreed to stop using force and threats in the future.
Article 2 says the two countries will respect each other's sovereignty and territorial integrity and refrain from interfering in internal affairs. Article 3 sets a 60-day deadline for reaching a final agreement.
Articles 4 and 5 outline steps to normalize the Strait of Hormuz. The United States will immediately lift the maritime blockade and restore shipping to prewar levels within 30 days. After the final agreement is signed, U.S. military forces will also withdraw from nearby areas. Iran, for its part, will restore commercial shipping to prewar levels within 30 days through mine-clearing and route restoration work.

The economic provisions amount to a large-scale support package for Iran. Under Article 6, the United States, together with its Middle East allies, will raise at least $300 billion to support Iran's reconstruction and economic development. The specific implementation plan will be drawn up within the next 60 days.
Article 7 states that all sanctions on Iran, including those under United Nations Security Council (UNSC) resolutions, International Atomic Energy Agency (IAEA)-related sanctions, and U.S. primary and secondary sanctions, will be lifted in stages. Article 10 requires the U.S. Department of the Treasury to immediately issue exemptions for exports of Iranian crude oil and petrochemical products. Related services such as banking, insurance, and shipping are also included.
Article 11 covers the release of frozen assets. The United States will unfreeze Iran's frozen and restricted assets in line with progress in the final agreement and allow them to be used freely for purposes designated by the Central Bank of Iran.

The most notable part concerns the nuclear issue. In Article 8, Iran reaffirmed its long-held position that it will "never produce nuclear weapons." However, the core issues in the nuclear talks, including how to handle highly enriched uranium and other enriched nuclear materials, as well as the scope of restrictions on enrichment activities, were all pushed to the final agreement stage. The agreement only says that the "fate of enriched material" and other nuclear-related issues will be addressed in the final deal.
As a result, the U.S. demand that highly enriched uranium be removed from the country and Iran's demand for guarantees of the right to peaceful nuclear use are expected to become the biggest points of contention in the next 60 days of negotiations.
Article 9 sets out a status quo until the final agreement is reached. Iran will keep its nuclear program at its current level, while the United States will refrain from imposing new sanctions or increasing troop deployments in the Middle East.
Article 12 calls for the creation of a joint implementation body to oversee compliance with the agreement. Article 13 says the final negotiations will begin only after the United States has actually carried out key economic measures such as lifting the maritime blockade, allowing oil exports, and unfreezing assets.
The final Article 14 states that once the final agreement is signed, it will have international legal force through a binding resolution of the United Nations Security Council.



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