Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release

• Iran won’t produce, acquire nuclear weapons under deal: Iranian official.
• Tehran to dilute enriched uranium inside Iran, official tells Reuters.
• US to waive Iranian oil sanctions for specified period: official.
  

A senior Iranian official told Reutersthat a final draft of the memorandum of understanding with the United States covers a range of issues, including Tehran’s nuclear programme, the reopening of the Strait of Hormuz and US waivers on oil sanctions, with a final agreement to be negotiated within 60 days after both sides endorse the memorandum.

According to the official, Iran would immediately reopen the Strait of Hormuz to all commercial vessels, while the United States would lift its naval blockade on Iranian ports. The process of lifting the blockade would begin immediately after the memorandum is signed and would be completed within 30 days.

The official said the United States has agreed not to impose any new sanctions on Iran until a final agreement is reached. Following such an agreement, all US and UN sanctions on Iran would be removed according to a mutually agreed timetable.

Under the draft, Washington would also waive oil sanctions on Iran for a specified period, allowing Tehran to resume oil exports and receive related revenues.

The memorandum further envisages the release of $25 billion in frozen Iranian assets through a combination of direct cash transfers, regional cooperation mechanisms and financial credit arrangements.

In addition, the United States, in coordination with its regional allies, would prepare a reconstruction and development plan for Iran. The proposal would be negotiated with Tehran and finalised within 60 days.

On the nuclear front, Iran would commit to neither producing nor acquiring nuclear weapons.

Pending a comprehensive agreement, Tehran would maintain the current status of its nuclear programme by refraining from further uranium enrichment and expansion of nuclear facilities.

The United States would also permit Iran, under a future comprehensive agreement, to dilute its stockpile of highly enriched uranium on Iranian soil.

The official said key issues related to Iran’s nuclear programme, uranium enrichment activities and mechanisms for handling its stockpile of highly enriched uranium would be negotiated during the 60-day period following the signing of the memorandum and incorporated into a final agreement.