Iran and the United States agreed in their Memorandum of Understanding (MoU) that Iran's enriched nuclear material will not be removed from the country, with it being diluted inside Iran under the supervision of the International Atomic Energy Agency (IAEA).
The MoU also states that, upon signing, "a mechanism will be agreed upon under which the United States will make available to Iran the funds and assets that have been frozen."
Apparently, according to the leaked text, the agreement will not require significant steps before those funds are released.
This is mentioned in articles 8 to 14 of the memorandum, which establishes limits on US forces in the region and states that negotiations regarding Iran’s nuclear program will be conducted during the period following the signing of the agreement.
It also determines that the “US Department of Treasury will issue waivers for the export of Iranian crude oil, petroleum products, and derivatives,” and it will release the frozen or restricted Iranian funds.
What does the MoU say?
The first article of the MoU, as revealed on Tuesday, states that signing the agreement will stop “military operations on all fronts, including in Lebanon.”
Articles 2 and 3 establish an understanding between the US and Iran over each other’s “sovereignty and territorial integrity,” while it gives a 60-day timeframe, which is extendable with mutual consent," to make a final deal.
Articles 4 and 5 address the Strait of Hormuz issue, determining the immediate lift of the US blockade and an Iranian compromise to “make arrangements using its best efforts for the safe passage of commercial vessels with no charge.”
Article 6 focuses on economic relief and the lifting of sanctions, and it states that the US will implement a $300 billion plan to support the reconstruction and economic development of Iran.
The agreement text also determines that the final resolution will be endorsed by a binding United Nations Security Council resolution.