Trump, Pezeshkian seal 14-point peace deal

DUBAI: US President Donald Trump and Iranian President Masoud Pezeshkian have digitally signed a landmark 14-point “Islamabad Memorandum of Understanding”, ending months of conflict and setting in motion an ambitious process that envisages a permanent ceasefire, reopening of the Strait of Hormuz, sweeping sanctions relief for Tehran and international oversight of Iran’s nuclear programme.

The accord, mediated by Pakistan, commits Iran, the United States and their allies to the immediate and permanent termination of military operations on all fronts, including Lebanon, and bars future use of force against each other.

The two sides have agreed to negotiate a final settlement within 60 days, extendable by mutual consent.

As part of the initial implementation, Washington will begin dismantling its naval blockade against Iran and fully remove it within 30 days, while Tehran has undertaken to restore commercial navigation through the Strait of Hormuz and adjoining waters free of charge for an initial 60-day period. At the heart of the agreement lies a broad understanding on sanctions and Iran’s nuclear programme.

The United States has undertaken to terminate all categories of sanctions against Iran—including UN Security Council sanctions, IAEA Board resolutions and unilateral US primary and secondary sanctions—under a mutually agreed schedule to be incorporated into the final agreement.

Pending the lifting of sanctions, the US Treasury will immediately issue waivers permitting the export of Iranian crude oil, petroleum products and derivatives, along with associated banking, insurance and transportation services.

Washington has also agreed to unfreeze Iranian funds and assets and make them fully available for use, with modalities to be worked out during negotiations.

On the nuclear issue, Iran has reaffirmed that it will neither acquire nor develop nuclear weapons. Both countries agreed to address Tehran’s stockpile of enriched material through a mutually agreed mechanism, with the minimum requirement being on-site down blending under the supervision of the International Atomic Energy Agency.

The memorandum further provides for discussions on uranium enrichment and other matters connected with Iran’s civilian nuclear requirements.

The United States, together with regional partners, has also committed itself to developing a reconstruction and economic development package worth at least $300 billion for Iran, with details to be finalised within 60 days.

Pending the conclusion of a final agreement, Tehran will maintain the status quo in its nuclear programme, while Washington has pledged not to impose fresh sanctions or deploy additional military forces in the region.