FACTBOX: The 14-point US-Iran pact White House sent to Congress

WASHINGTON — The White House on Thursday transmitted to the U.S. Congress the text of an interim agreement between the United States of America and the Islamic Republic of Iran aimed at halting ongoing hostilities and reopening key maritime routes, including the Strait of Hormuz.

A copy of the document reviewed by Reuters outlines a 14-point framework for a temporary cessation of military operations and the launch of a 60-day negotiation period toward a comprehensive peace agreement. U.S. Vice President JD Vance said the formal negotiating window began Thursday.

The memorandum, titled the “Islamabad Memorandum of Understanding between the Islamic Republic of Iran and the United States of America,” sets out broad commitments on de-escalation, maritime access, sanctions relief, nuclear constraints, and future economic cooperation. It defers several complex issues — including the long-term structure of Iran’s nuclear program — to final-stage negotiations.

Key provisions of the interim agreement

Under the draft framework, both sides agree to the immediate cessation of all military operations and a mutual pledge not to initiate future attacks. The accord also emphasizes respect for sovereignty and territorial integrity, including stability concerns in Lebanon, where regional tensions have remained high.

The agreement calls for the gradual lifting of naval restrictions, including the removal of U.S. maritime impediments in phases over 30 days. In parallel, Iran would facilitate safe passage for commercial shipping through the Strait of Hormuz and surrounding waters, initially for a 60-day period, while technical and security measures are addressed.

The document also proposes the establishment of a broader regional framework involving maritime dialogue with Oman and other Gulf coastal states to determine long-term administration and shipping services in accordance with international law. Oman is expected to play a consultative role in future discussions.

Sanctions relief and economic provisions

The interim deal outlines a commitment by the United States to work with regional partners on a reconstruction and economic development package for Iran, valued at no less than $300 billion, subject to final agreement. It also proposes the gradual termination of unilateral and multilateral sanctions, including U.N. Security Council measures and U.S. secondary sanctions.

Pending a final deal, Washington would authorize limited waivers allowing the export of Iranian crude oil and related financial transactions. The agreement also provides for the unfreezing of Iranian assets, subject to jointly agreed implementation mechanisms.

Nuclear commitments and monitoring

Iran reaffirms that it will not seek to develop nuclear weapons. Both sides agree to establish a mechanism for managing enriched uranium stockpiles under International Atomic Energy Agency (IAEA) supervision, including potential on-site down-blending.

The two parties also commit to maintaining the current status quo of Iran’s nuclear program during negotiations, while the United States agrees not to impose new sanctions or deploy additional military forces in the region during this period.

Next steps

The interim framework envisions the creation of an executive mechanism to monitor implementation and ensure compliance as negotiations proceed. If a final agreement is reached within the 60-day window, it would be submitted for endorsement through a binding U.N. Security Council resolution.

The document underscores that many of its provisions are provisional and subject to change during final negotiations, particularly those related to sanctions relief, nuclear enrichment, and long-term regional security arrangements. -Reporting by Reuters newsroom, Editing by Don Durfee and Sanjeev Miglani/Reuters