US-Iran reach 14-point draft deal to end war, reopen Strait of Hormuz

The United States and Iran have reached a preliminary understanding aimed at ending the ongoing war and securing the vital Strait of Hormuz. The 14-point draft agreement, reviewed by Reuters, outlines a high-level framework that postpones the resolution of contentious issues, such as Iran's nuclear program, until a final accord is signed.

This interim memorandum of understanding paves the way for a more comprehensive 60-day negotiation period, scheduled to commence in Switzerland on Friday. The core of the agreement calls for an immediate and permanent cessation of hostilities on all fronts, including Lebanon. Both nations commit to refraining from hostile actions and the threat or use of force against each other.

Furthermore, the draft mandates the lifting of the U.S. naval blockade against Iran within 30 days, restoring full traffic capacity. Iran, in turn, will ensure the resumption of merchant ship movement through the Persian Gulf and the Sea of Oman to pre-war volumes within the same timeframe, addressing potential technical obstacles and mines. The U.S. also commits to withdrawing its forces from surrounding areas within 30 days after the final agreement is reached.

Crucially, the agreement includes a commitment from the United States, alongside regional partners, to develop a comprehensive plan for Iran's rehabilitation and economic development. This plan will be financed with at least $300 billion. The U.S. also pledges to end all sanctions against Iran, including those imposed by the UN Security Council, the IAEA Board of Governors, and unilateral U.S. sanctions, according to a schedule to be agreed upon in the final agreement.