The United States has released the text of an interim memorandum of understanding with Iran that establishes a broad framework for ending hostilities and launching a 60-day negotiation process aimed at reaching a comprehensive final agreement.

The document calls for an immediate and permanent cessation of military actions between the United States, Iran, and their respective allies across all fronts, including Lebanon, while committing both sides to refrain from the use or threat of force and to respect each other’s sovereignty.

The agreement also provides for the lifting of the U.S. maritime blockade on Iran, the restoration of commercial shipping through the Gulf and the Strait of Hormuz, and arrangements to ensure safe maritime transit during the transitional period.

Among its provisions are commitments to work toward lifting sanctions on Iran according to an agreed timetable, restoring access to frozen Iranian assets, and granting waivers for Iranian oil exports, petrochemical products, and related financial services.

On the nuclear issue, Iran reiterates that it will not seek nuclear weapons, while both parties agree to negotiate the future of enriched nuclear material and Iran’s nuclear program under international supervision.

The memorandum further outlines plans for an economic reconstruction and development package worth at least 300 billion dollars, the establishment of a joint implementation mechanism, and the endorsement of a final agreement through a binding United Nations Security Council resolution.