Islamabad: Iran's state news agency IRNA released a memorandum of understanding between Iran and the US, detailing a comprehensive roadmap to cease military conflicts and negotiate a final agreement.

According to Anadolu Agency, the 14-point document drafted by Tehran includes a commitment from both Iran and the United States, along with their allies, to permanently halt military operations on all fronts, including Lebanon, and to respect each other's sovereignty. The agreement outlines a 60-day negotiation period to reach a final deal, with an option for extension by mutual consent.

The memorandum specifies the lifting of the US naval blockade against Iran, with a complete withdrawal of military forces from the region within 30 days of a final agreement. In return, Iran commits to ensuring safe commercial passage through the Persian Gulf and the Gulf of Oman, working alongside Oman and other Gulf states on maritime administration.

An integral part of the document is the US commitment to a $300 billion program for Iran's reconstruction and economic development, alongside the termination of all sanctions against Iran, including those from the UN Security Council and the IAEA. Both nations also reaffirm their stance on nuclear weapons, with Iran agreeing not to produce or acquire any, and both sides aiming to resolve the status of enriched materials under IAEA supervision.

The memorandum outlines the maintenance of the status quo regarding Iran's nuclear program, while the US commits to issuing waivers for Iranian crude oil exports and making all restricted Iranian funds fully available. Both nations plan to establish a mechanism to ensure compliance with the memorandum and future agreements.

The final agreement is set to be endorsed by a UN Security Council resolution, marking a significant step towards peace and cooperation between the long-adversarial nations.