Paragraph 7
The United States of America undertakes to terminate all types of sanctions against the Islamic Republic of Iran, including the United Nations Security Council resolutions, I.A.E.A. Board of Governors resolutions, and all unilateral U.S. sanctions, primary and secondary, in an agreed-upon schedule as part of the final deal. The Islamic Republic of Iran and the United States of America acknowledge the critical importance of the sanctions termination issue above mentioned, and express their intentions to immediately address these issues in the negotiations in order to achieve mutual agreement on them.
Days after the memorandum of understanding was signed, the United States issued a general license allowing Iran to produce, sell and deliver oil for two months while peace negotiations were underway. But it reimposed economic sanctions on July 7 after three ships were attacked in the Strait of Hormuz.
Paragraph 8
The Islamic Republic of Iran reaffirms that it shall not procure or develop nuclear weapons. The United States of America and the Islamic Republic of Iran have agreed to resolve the disposition of stockpiled, enriched material pursuant to a mechanism that will be mutually agreed upon in accordance with the schedule mentioned in Paragraph 7, with the minimum methodology to be down-blending on site under the supervision of the I.A.E.A. The two parties also agreed to discuss the issue of enrichment and other mutually agreed matters related to the Islamic Republic of Iran’s nuclear needs, based on the statutory framework being agreed upon in the final deal. The final deal will confirm the provisions of this paragraph. The United States of America and the Islamic Republic of Iran acknowledge the critical importance of the nuclear issues above mentioned, and express their intention to immediately address these issues in the negotiation in order to achieve mutual agreement on them.
There has been no apparent movement on nuclear negotiations since the cease-fire collapsed. An international deal to limit Iran’s nuclear program, reached in 2015, took years to negotiate, not months.
Paragraph 9
Pending the final deal, the United States of America and the Islamic Republic of Iran agree to maintain the status quo. The Islamic Republic of Iran will maintain the current status quo of its nuclear program, and the United States of America will not impose any new sanctions, and will not deploy additional forces in the region.
A deal by Aug. 16, the 60-day deadline, seems unlikely. While Mr. Trump has agreed to draw down some American forces in the Middle East, including withdrawing troops from Iraq by Sept. 30, he is also sending more warplanes to the region.
Paragraph 10
The United States of America undertakes that immediately upon the signing of this M.O.U., and until the termination of sanctions, U.S. Department of Treasury will issue waivers for the export of Iranian crude oil, petroleum products and derivatives, and all associated services, including banking transactions, insurances, transportation, etc.
The sanctions waivers were revoked on July 7 after the Trump administration accused Iran of attacking ships in the Strait of Hormuz.
Paragraph 11
The United States of America undertakes to make fully available for use the frozen or restricted funds and assets of the Islamic Republic of Iran upon the implementation of this M.O.U. The United States of America and the Islamic Republic of Iran will mutually agree on the procedures related to the release of these funds during the negotiations. Such funds, whether retained in the original account or transferred, shall be made fully usable for payment to any ultimate beneficiary designated by the Central Bank of the Islamic Republic of Iran. The United States of America undertakes to issue all necessary licenses and authorizations accordingly.
President Trump initially agreed to release about $24 billion in frozen Iranian assets from more than $100 billion currently held by financial institutions abroad. The week after the interim understanding was signed, Treasury Secretary Scott Bessent said the United States would oversee how the assets were spent and that “a very large percentage of it will go to buy U.S. foodstuffs and medicines.”
