Full text of US-Iran deal promises sanctions relief and phased access to frozen funds

Full text of US-Iran deal promises sanctions relief and phased access to frozen funds Iran is set to receive sanctions relief for the sale of its oil and related petroleum products as part of a memorandum of understanding with the US that could also unlock $300bn for the redevelopment of the Islamic Republic, according to the text of the agreement circulating in US media.

The details have been reported by several media outlets, but Bloomberg obtained a full draft of the memorandum which appears to usher in sweeping gains for Iran without addressing key US war objectives.

For example, the memorandum cited by Bloomberg does not address the fate of Iran’s enriched uranium, long considered a sticking point in negotiations.

Nor does it mention Iran’s conventional military forces, like its ballistic missile arsenal, which Trump entered the war calling a threat to the US.

The memorandum also says that the ceasefire includes “all fronts, including in Lebanon”, reaffirming a key Iranian demand that is sure to anger US ally Israel.

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