US officials confirm details of peace deal with Iran
The memorandum of understanding between Washington and Tehran includes a 300 billion dollar recovery fund for Iran, US officials confirmed on Wednesday. The deal, which is not yet final, also includes the toll-free reopening of the Strait of Hormuz and the destruction of Iran's nuclear stockpile.
The agreement aims to bring about the "immediate and permanent termination of military operations on all fronts, including in Lebanon." Merchant ships must also be able to sail safely through the Strait of Hormuz without paying tolls for 60 days. The US naval blockade against Iran must be lifted within 30 days and its military presence in the region is to be reduced to pre-war levels.
According to the document, the United States commits "to develop a definitive, mutually agreed plan with at least USD $300 billion for the reconstruction and economic development" of Iran. Senior US officials stress that the text does not explicitly commit Washington to a financial contribution.
The text also clearly states that Iran must never be allowed to acquire a nuclear weapon. Cooperation will take place to remove Iran's enriched nuclear material "with the minimum methodology to be down blending on site". That will happen under the supervision of the International Atomic Energy Agency (IAEA). In return, the US will lift sanctions against Iran.
Both countries are expected to sign the memorandum of understanding later this week. The text states that the US and Iran have committed to "negotiating and achieving the final deal in maximum 60 days extendable with mutual consent". But the deal is fragile, US officials warn, and talks could still collapse if one side decides to walk away.
PHOTO © Mandel NGAN / AFP
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