US, Iran may sign preliminary memorandum in Geneva
Shafaq News- Washington/ Tehran
The United States and Iran are expected to sign a preliminary memorandum of understanding in Geneva on Sunday, Bloomberg reported on Friday, citing a Group of Seven (G7) official.
The planned signing would involve an initial memorandum rather than a final accord, the source said, adding that the ceremony could take place on the sidelines of next week's G7 meeting.
Separately, Iran's Mehr News Agency published a 14-point draft memorandum, citing a source close to the Iranian negotiating team.
According to the reported draft, the document calls for an immediate and permanent halt to military conflict on all fronts, including Lebanon. It also talks about a US commitment not to interfere in Iran's internal affairs and to respect the country's sovereignty. The draft reportedly outlines the full lifting of maritime restrictions within 30 days, a US commitment to withdraw forces from areas surrounding Iran, and the reopening of the Strait of Hormuz under arrangements coordinated by Tehran.
Mehr said the proposed memorandum also indicates the suspension of sanctions on Iranian oil exports, petrochemical products, and related industries, as well as guarantees for Iran's access to its financial resources.
The draft further envisages reconstruction plans worth at least $300 billion to be financed by the United States and its allies, along with 60 days of negotiations aimed at reaching a final agreement focused on Iran's nuclear file and the removal of US primary and secondary sanctions, as well as relevant measures imposed by the United Nations Security Council and the International Atomic Energy Agency (IAEA) Board of Governors.
Iran would reaffirm its commitment under the Nuclear Non-Proliferation Treaty (NPT) not to produce nuclear weapons. During the proposed negotiation period, the United States would refrain from expanding its military presence in the region or imposing new sanctions.
The draft also details the release of $24 billion in frozen Iranian assets during the 60-day negotiation period, with half of the funds reportedly to be made available before talks begin. It further proposes the establishment of a monitoring mechanism to oversee implementation and calls for any final agreement to be endorsed by a UN Security Council resolution.
Mehr reported that the draft stipulates that final negotiations would not begin until half of the frozen assets are released, oil sanctions are suspended, and maritime restrictions are lifted. It added that any final agreement would focus on enriched nuclear material, uranium enrichment activities, sanctions relief, and Iran's economic reconstruction program, while excluding discussions on Iran's missile program or its support for regional armed groups.
Axios noted that the memorandum under discussion includes the full reopening of the Strait of Hormuz, a 60-day extension of the current ceasefire, including in Lebanon, and the resumption of nuclear negotiations during that period. The report also said international shipping would be allowed to pass through the strategic waterway without fees.
A US official told the outlet that one option under consideration would involve reducing uranium enrichment levels inside Iran under the supervision of United Nations inspectors, adding that mediators reached the current draft following talks between a Qatari intermediary and Iranian Foreign Minister Abbas Araghchi, alongside ongoing contacts with US envoys Steve Witkoff and Jared Kushner.
The text has received support from senior Iranian officials but has not yet secured final approval from Iran's Supreme Leader, Mojtaba Khamenei, while mediators continue to finalize the document and arrange a signing ceremony.
