US-Iran deal text published by Al Arabiya includes sanctions relief, reconstruction funds

A Saudi-funded news channel, Al Arabiya, has published what it claims is the text of an agreement between the United States and Iran aimed at ending the conflict in the Middle East. The deal, reportedly set to be signed in Switzerland on Friday, outlines 14 points. While the content has not been officially released, Al Arabiya's published document indicates that Washington and Tehran have agreed to an immediate and irreversible cessation of hostilities, including in Lebanon. Both sides reportedly commit to not initiating hostile actions against each other and to refrain from threats or the use of force.

The agreement proposes that both parties will negotiate a final deal within 60 days, with the possibility of extension. Upon signing, the U.S. would immediately lift its naval blockade on Iranian ports in the Persian Gulf and fully restore shipping traffic within 30 days. U.S. troops would also withdraw from surrounding areas within 30 days of the final agreement. Iran, in turn, would take immediate steps to normalize commercial shipping through the Strait of Hormuz within 30 days to pre-war levels, and address technical obstacles and neutralize mines.

Furthermore, the U.S. would collaborate with partner nations to develop a comprehensive plan for Iran's reconstruction and economic development, with a minimum funding commitment of $300 billion. The implementation mechanism is to be developed within 60 days as part of the final agreement. The U.S. also commits to lifting all sanctions against Iran, including those from UN Security Council and IAEA resolutions, as well as all unilateral U.S. sanctions. The timeline for this sanction relief is to be included in the final agreement.

Iran reportedly reiterates its commitment to never produce nuclear weapons. The fate of enriched material and other nuclear-related issues, including Iran's nuclear needs, will be addressed in the final agreement. Until then, both sides are to maintain the status quo regarding Iran's nuclear program and U.S. sanctions. The U.S. Treasury will issue waivers for Iranian crude oil, petrochemical products, and their derivatives immediately after signing and until sanctions are lifted, and will release frozen Iranian assets to the Central Bank of Iran.