The United States on Wednesday published the text of an interim agreement with Iran aimed at halting the war between the two sides and reopening the Strait of Hormuz.

Below is the text of the memorandum of understanding signed remotely on Wednesday evening by U.S. President Donald Trump and Iranian President Masoud Pezeshkian to end the war in the Middle East:

U.S. President Donald Trump. (AFP)

Clause 1 – The United States of America and the Islamic Republic of Iran, along with their allies in the ongoing war, declare by signing this memorandum of understanding an immediate and permanent cessation of military operations on all fronts, including in Lebanon, and commit henceforth not to initiate any war or military operation against each other, to refrain from the threat or use of force against each other, and to ensure the safety and sovereignty of Lebanon’s territory. The final agreement will confirm the permanent cessation of the war on all fronts, including in Lebanon, and include the other provisions outlined in this paragraph.

Clause 2 – The United States of America and the Islamic Republic of Iran commit to respecting each other’s sovereignty and territorial integrity and to refraining from interfering in each other’s internal affairs.

Clause 3 – The United States of America and the Islamic Republic of Iran commit to negotiating and reaching a final agreement within a maximum period of 60 days, extendable by mutual consent.

Clause 4 – Immediately upon signing this memorandum of understanding, the United States of America will begin lifting its naval blockade and any disturbances or obstacles imposed on the Islamic Republic of Iran, and will fully end the naval blockade within 30 days. During this period, the volume of ship traffic will match the numbers that were in place before the war, which will be restored by the Islamic Republic of Iran. The United States also commits to withdrawing its forces from the vicinity of the Islamic Republic of Iran within 30 days after the final agreement.

Clause 5 – Upon signing this memorandum of understanding, the Islamic Republic of Iran will make arrangements and exert its best efforts to ensure the safe passage of commercial ships without fees for a period of 60 days only, from the Persian Gulf to the Gulf of Oman and vice versa. Commercial shipping traffic will resume immediately, taking into account the need to remove technical and military obstacles and clear mines by the Islamic Republic of Iran; this movement will be activated within 30 days. The Islamic Republic of Iran will conduct dialogue with the Sultanate of Oman to determine the management of future maritime services in the Strait of Hormuz, in consultation with other coastal states of the Arabian Gulf, in accordance with applicable international law and the sovereign rights of the states bordering the Strait of Hormuz.

Clause 6 – The United States of America, in cooperation with regional partners, commits to establishing a final plan mutually agreed upon, valued at no less than 300 billion U.S. dollars, for the reconstruction and economic development of the Islamic Republic of Iran. The mechanism for implementing this plan will be completed as part of the final agreement within 60 days. The United States of America will grant all necessary licenses, exemptions, and permissions related to financial transactions.

Clause 7 – The United States of America commits to ending all forms of sanctions imposed on the Islamic Republic of Iran, including United Nations Security Council resolutions and the resolutions of the Board of Governors of the International Atomic Energy Agency, as well as all primary and secondary unilateral U.S. sanctions, according to an agreed timeline as part of the final agreement. The Islamic Republic of Iran and the United States of America acknowledge the importance of ending the above-mentioned sanctions and express their intention to immediately address these issues in negotiations to reach a mutual agreement.

Clause 8 – The Islamic Republic of Iran reaffirms that it will not seek to acquire or develop nuclear weapons. The United States of America and the Islamic Republic of Iran have agreed to settle the issue of disposing of enriched stockpiles through a mechanism agreed upon between the parties according to the timeline set forth in paragraph 7, wherein the minimum mechanism will be reducing uranium enrichment levels on-site under the supervision of the International Atomic Energy Agency. The parties also agreed to discuss enrichment and other agreed-upon issues related to the nuclear needs of the Islamic Republic of Iran, based on a satisfactory framework to be agreed upon in the final agreement. The United States of America and the Islamic Republic of Iran acknowledge the importance of these nuclear issues and express their intention to address them immediately in negotiations toward a mutual agreement.

Clause 9 – Pending the final agreement, 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 status quo of its nuclear program, and the United States of America will not impose any new sanctions, nor deploy additional forces to the region.

Clause 10 – The United States of America commits that immediately upon signing this memorandum of understanding and until the end of sanctions, the U.S. Treasury Department will issue exemptions for the export of Iranian crude oil, petroleum products, derivatives, and all related services, including banking transactions, insurance, and transportation, among others.

Clause 11 – The United States of America commits to making available the frozen or restricted funds and assets belonging to the Islamic Republic of Iran for full use immediately upon implementation of this memorandum of understanding. 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 negotiations. These funds, whether remaining in their original accounts or transferred, must be fully available for use to pay any final beneficiaries designated by the Central Bank of the Islamic Republic of Iran. The United States of America commits to issuing all necessary licenses and permits to achieve this.

Clause 12 – The United States of America and the Islamic Republic of Iran agree to establish an implementation mechanism to monitor the successful application of this memorandum of understanding and future compliance with the final agreement.

Clause 13 – After signing this memorandum of understanding and subject to the initiation of implementation of paragraphs 1, 4, 5, 10, and 11, and the continued implementation of these measures, the United States of America and the Islamic Republic of Iran will begin negotiations on the final agreement, exclusively concerning the other paragraphs.

Clause 14 – “The final agreement shall be adopted by a binding decision of the United Nations Security Council.”