The United States and Iran will sign a draft memorandum in Geneva on 19 June that calls for an immediate cease‑fire, lifting of the naval blockade, sanctions relief, nuclear limits and a $300 billion reconstruction plan, with a 60‑day window to negotiate a final settlement.
The United States and the Islamic Republic of Iran are set to meet in Switzerland on 19 June to sign a memorandum of understanding that would launch a two‑month negotiation window aimed at ending the hostilities that have lasted for more than a decade.
According to the draft released by the two delegations, the agreement will call for an immediate and permanent cessation of all military actions on every front, including in Lebanon, and will obligate each side to refrain from any threat or use of force against the other. Both parties also pledge to respect each other's sovereignty and territorial integrity and to stay out of each other's internal affairs.
The MOU outlines a 60‑day period, with the possibility of extension by mutual consent, in which the United States and Iran must work toward a final comprehensive settlement covering nuclear constraints, sanctions relief, maritime traffic, and regional security arrangements. The text of the memorandum contains a series of detailed implementation steps.
Within 30 days of signing, the United States is expected to lift the naval blockade that has constrained Iranian shipping, restore commercial traffic through the Persian Gulf‑Oman Strait to pre‑war levels, and withdraw its forces from the surrounding region. In parallel, Tehran will take measures to clear mines and remove technical obstacles to allow merchant vessels to move freely.
Both sides will also cooperate with regional partners to design a reconstruction and economic development plan for Iran, with a minimum financing package of $300 billion to be agreed within the 60‑day negotiation period. On the nuclear front, Iran reiterates that it will never produce a nuclear weapon, and the two governments agree that the fate of enriched material and other nuclear‑related issues will be settled in the final agreement.
While the final deal is being negotiated, both parties will maintain the status quo: Iran will keep its nuclear program at its current level and the United States will refrain from imposing new sanctions or strengthening its military presence in the region. Sanctions relief is a central component of the proposed framework.
The United States commits to a phased lifting of all sanctions, including United Nations Security Council resolutions, International Atomic Energy Agency directives, and unilateral American measures, subject to a timetable to be defined in the final treaty. The U.S. Treasury will issue waivers for the export of Iranian crude oil, petrochemical products and related services, and will release frozen Iranian funds and assets, making them fully available for use under the direction of Iran's central bank.
All necessary permits and licenses will be provided to facilitate trade and financing. An implementation mechanism will be established to monitor compliance with the final agreement and to ensure that both sides uphold their commitments. While Iran's state news agency Tasnim has indicated that some details in the Bloomberg report differ from the official version, the core provisions of the memorandum remain aimed at ending the conflict, restoring economic links, and preventing further nuclear proliferation
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