The Trump administration on Wednesday shared with journalists the official text of the memorandum of understanding between the U.S. and Iran to establish a ceasefire with Iran, permanently end Israel’s war against Hezbollah in Lebanon, reopen the Strait of Hormuz while ending the U.S. naval blockade and kickstart a 60-day negotiation period on the future of Iran’s nuclear program and the possibility of lifting U.S. sanctions on Tehran.

The 14-point agreement was read aloud by a senior administration official on a call with reporters. The White House did not provide a written copy of the agreement after the readout. 

Below is the agreement as delivered on the call:

The United States of America and the Islamic Republic of Iran, hereinafter referred to as the “Parties,” have jointly agreed in good faith on [Date] to the following:

Paragraph 1 – Cessation of Hostilities

The Parties and their respective allies in the current war, by signing this MOU, declare the immediate and permanent termination of all military operations on every front, including in Lebanon. The Parties undertake not to initiate any war or military operation against each other, to refrain from the threat or use of force against one another, and to respect the territorial integrity and sovereignty of Lebanon. The final deal will confirm the permanent termination of the war on all fronts, including Lebanon, and will incorporate the other provisions of this paragraph.

Paragraph 2 – Sovereignty and Non-Interference

The Parties undertake to respect each other’s sovereignty and territorial integrity and to refrain from interfering in each other’s internal affairs.

Paragraph 3 – Timeline for Final Deal

The Parties commit to negotiating and concluding the final deal within a maximum of 60 days, extendable only by mutual consent.

Paragraph 4 – Naval Blockade and Force Posture

Immediately upon signing this MOU, the United States shall begin removing its naval blockade and any other impediments or disturbances imposed on the Islamic Republic of Iran, and shall fully lift the naval blockade within 30 days. During this period, vessel traffic shall be progressively restored toward pre-war levels. The United States further undertakes to withdraw its forces from the proximity of the Islamic Republic of Iran within 30 days after the conclusion of the final deal.

Paragraph 5 – Strait of Hormuz and Maritime Security

Upon signing this MOU, the Islamic Republic of Iran shall, using its best efforts, arrange for the safe and free passage of commercial vessels through the Strait of Hormuz with no charge for a period of 60 days, in both directions (Persian Gulf to Sea of Oman and vice versa). Commercial vessel traffic shall resume immediately. Iran shall complete the necessary technical and military measures, including demining, within 30 days. The Islamic Republic of Iran will engage in dialogue with the Sultanate of Oman and other Persian Gulf littoral states to define future administration and maritime services in the Strait of Hormuz, in accordance with applicable international law and the sovereign rights of coastal states.

Paragraph 6 – Reconstruction and Economic Development

The United States, in coordination with regional partners, undertakes to develop a definitive, mutually agreed reconstruction and economic development plan for the Islamic Republic of Iran valued at a minimum of $300 billion (USD). The implementation mechanism for this plan shall be finalized as part of the final deal within 60 days. The United States shall grant all required licenses, waivers, and permissions necessary for the relevant financial transactions.

Paragraph 7 – Sanctions Termination

The United States undertakes to terminate all sanctions against the Islamic Republic of Iran — including UN Security Council resolutions, IAEA Board of Governors resolutions, and all unilateral U.S. primary and secondary sanctions — according to an agreed schedule to be included in the final deal. The Parties acknowledge the critical importance of the sanctions issue and express their intention to address it immediately in negotiations to reach mutual agreement.

Paragraph 8 – Nuclear Issues

The Islamic Republic of Iran reaffirms that it shall not procure or develop nuclear weapons. The Parties agree to resolve the disposition of Iran’s stockpiled enriched material through a mutually agreed mechanism, with the baseline method being on-site down-blending under IAEA supervision, in accordance with the sanctions-termination schedule in Paragraph 7. The Parties will also discuss Iran’s enrichment activities and other nuclear-related matters within a satisfactory framework to be agreed in the final deal. The final deal will confirm the provisions of this paragraph. The Parties acknowledge the critical importance of these nuclear issues and intend to address them immediately in negotiations.

Paragraph 9 – Status Quo Pending Final Deal

Pending the final deal, the Parties agree to maintain the status quo: the Islamic Republic of Iran will maintain the current status of its nuclear program, and the United States will not impose any new sanctions or deploy additional forces in the region.

Paragraph 10 – Oil Export Waivers

Immediately upon signing this MOU and until the termination of sanctions, the U.S. Department of the Treasury shall issue waivers authorizing the export of Iranian crude oil, petroleum products, derivatives, and all associated services (including banking, insurance, and transportation).

Paragraph 11 – Access to Frozen Funds and Assets

The United States shall make fully available all frozen or restricted Iranian funds and assets. Upon implementation of this MOU, the Parties will mutually agree on procedures for the release and use of these funds during negotiations. Such funds shall be usable for payments to any ultimate beneficiary designated by the Central Bank of the Islamic Republic of Iran. The United States shall issue all necessary licenses and authorizations to this end.

Paragraph 12 – Monitoring Mechanism

The Parties agree to establish an executive mechanism to monitor the implementation of this MOU and future compliance with the final deal.

Paragraph 13 – Sequencing of Negotiations

After signing this MOU, and subject to the commencement and continued implementation of Paragraphs 1, 4, 5, 10, and 11, the Parties shall begin negotiations on the remaining elements of the final deal.

Paragraph 14 – UN Security Council Endorsement

The final deal shall be endorsed by a binding United Nations Security Council resolution.