Read the 14-Point Draft Memorandum Between the US and Iran

The United States and Iran have drafted a 14-point memorandum of understanding (MOU) to be formally signed on June 19, 2026, in Switzerland, establishing a f...

What Happened

The United States and Iran have drafted a 14-point memorandum of understanding (MOU) to be formally signed on June 19, 2026, in Switzerland, establishing a framework to end hostilities that began on February 28, 2026, and initiating a 60-day window of final negotiations.
The draft MOU commits both sides to an immediate and permanent end to hostilities across all fronts — including Lebanon — and to refraining from any further hostile actions or threats of force against each other.
Immediately upon signing, the US agrees to lift its naval blockade of Iranian waters; full maritime traffic restoration through the Strait of Hormuz is expected within 30 days, along with US Treasury waivers permitting Iranian crude oil and petrochemical exports.
On nuclear matters, Iran reaffirms its commitment not to develop nuclear weapons; remaining points — including the duration of a moratorium on uranium enrichment and the disposal of existing enriched uranium stockpiles — are deferred to the 60-day final negotiation phase.
A $300 billion economic rehabilitation and reconstruction programme for Iran is pledged by the US and its regional partners, to be implemented upon completion of a final permanent agreement.

Static Topic Bridges

The Strait of Hormuz — A Critical Maritime Chokepoint

The Strait of Hormuz is a narrow waterway between the Arabian Peninsula and Iran connecting the Persian Gulf to the Gulf of Oman and the wider Indian Ocean. It is the world's single most important oil chokepoint by volume.

Width at its narrowest: approximately 33 kilometres; two-kilometre-wide shipping lanes in each direction
Approximately 15–17 million barrels per day (mb/d) of crude oil transit Hormuz — representing roughly 20–27% of global petroleum liquids consumption and around 25% of all seaborne oil trade
Around 19% of global LNG trade transits the strait, including nearly all of Qatar's and UAE's LNG exports
Countries whose exports depend entirely on Hormuz: Saudi Arabia, Iraq, Kuwait, UAE, Qatar, Bahrain, and Iran itself
Closure by Iran in 2026 is the first time in history the strait has been shut to commercial traffic at scale

Connection to this news: Reopening the Strait of Hormuz is a core deliverable of the MOU signed before any nuclear or sanctions issues are resolved, reflecting the strait's outsize importance to global energy and economic stability.

The Nuclear Non-Proliferation Treaty (NPT) and Iran's Obligations

The Treaty on the Non-Proliferation of Nuclear Weapons (NPT) entered into force in 1970. It creates three categories of states: nuclear-weapon states (the P5), non-nuclear-weapon states (NNWS), and parties obligated to pursue disarmament. Iran is a signatory NNWS under the NPT.

Article II: NNWS may not acquire or manufacture nuclear weapons
Article III: NNWS must accept IAEA safeguards on all nuclear material to prevent diversion for military use
Article IV: Recognises the "inalienable right" to peaceful use of nuclear energy — Iran cites this to justify uranium enrichment
Iran was reported to the UN Security Council by the IAEA in 2006 for non-compliance with its safeguards obligations
As of early 2026, Iran held an estimated 440.9 kg of uranium enriched to 60% — close to the 90% weapons-grade threshold — representing enough material for approximately 10 weapons if further enriched

Connection to this news: The MOU's nuclear provisions require Iran to reaffirm its NPT commitment against weapons development; the contested 60-day negotiation will centre on operationalising this through a formal enrichment moratorium and enhanced IAEA inspections.

The JCPOA — Historical Precedent for Iran Nuclear Diplomacy

The Joint Comprehensive Plan of Action (JCPOA), concluded in July 2015 between Iran and the P5+1 (five permanent UN Security Council members plus Germany), was the most comprehensive nuclear deal ever reached with Iran.

Under JCPOA: Iran reduced centrifuges by two-thirds, capped uranium enrichment at 3.67%, cut its enriched uranium stockpile by 98% to 300 kg, and accepted intrusive IAEA inspections
In return, the US, EU, and UN lifted nuclear-related sanctions, unlocking Iran's oil exports and international banking access
The US withdrew from the JCPOA in May 2018, reimposing sanctions; Iran gradually abandoned its enrichment limits from 2019 onwards
"Sunset clauses" in the JCPOA meant key restrictions would have expired after 10–15 years
The 2026 MOU negotiations echo JCPOA architecture but are pursued in the aftermath of active armed conflict — a fundamentally different diplomatic context

Connection to this news: The 2026 MOU attempts to construct a successor framework to the JCPOA. The core unresolved tension — the duration of an enrichment moratorium (US demands 20 years; Iran proposed 5–10 years) — directly mirrors the "sunset clause" debate of 2015 negotiations.

Memorandum of Understanding (MOU) in International Law

An MOU is a non-binding or quasi-binding instrument in international diplomacy, expressing an intent to cooperate or the terms of an agreement without the force of a formal treaty. In practice, it typically precedes a legally binding treaty and establishes the framework and timeline for further negotiation.

MOUs do not require ratification by national legislatures (unlike treaties); they carry political rather than strict legal weight
The 2026 US-Iran MOU will be made binding through a subsequent UN Security Council resolution approving the final agreement
Mediation in this case was conducted by Pakistan; venue agreed upon: Switzerland
Multiple competing drafts circulated (at least three versions reported), indicating the depth of unresolved issues

Connection to this news: The choice of an MOU rather than a full treaty reflects the diplomatic reality that too many details remain contested; the 60-day negotiating window is designed to convert the MOU's political commitments into enforceable obligations.

Key Facts & Data

MOU signing: scheduled June 19, 2026, Switzerland
Duration of final negotiations window: 60 days (extendable by mutual consent)
Economic reconstruction pledge: minimum $300 billion from US and regional partners
Iranian frozen assets sought for immediate release: approximately $24 billion
US naval blockade lift: immediately upon MOU signing
Strait of Hormuz full maritime restoration timeline: within 30 days of signing
Oil transiting Hormuz: approximately 15–17 mb/d (~20–27% of global supply)
Iran's 60%-enriched uranium stockpile: estimated 440.9 kg (as of mid-2026)
Weapons-grade threshold: 90% enriched uranium
JCPOA signed: July 14, 2015; US withdrawal: May 8, 2018
NPT entered into force: March 5, 1970