Nicole Combeau / EPA
The agreement provides for a definitive end to hostilities and establishes a period of 60 days of negotiations with a view to concluding a final agreement on the future of Iran’s nuclear program.
The heads of state of Iran and the United States signed, this Wednesday, a preliminary agreement aimed at putting an end to the conflict triggered by the North American and Israeli attacks on the Middle Eastern country at the end of February.
Throughout the day, Donald Trump had already anticipated that the memorandum of understanding with Iran would be signed “shortly“, which ended up happening on Wednesday night.
According to , Tehran also confirmed the signing of the agreement. “The text of the Islamabad Memorandum of Understanding has been finalized with the signatures of the presidents. Now it is time to test the implementation of this agreement”, said the spokesman for the Ministry of Foreign Affairs, Esmail Baghaicited by Iranian state news agency IRNA.
The agreement also reaffirms the commitment to Lebanon’s territorial integrity in the face of the Israeli military incursion against the Hezbollah group and paves the way for the lifting of all sanctions imposed on Iran by the US and the United Nations, including those related to Tehran’s weapons programs and human rights violations.
However, the timetable for removing these measures will be defined at a later stage.
The document also provides for the provision of at least 300 billion dollars for the reconstruction of Iran. The allocation of these funds will, however, depend on progress made in future negotiations.
The closure of the Strait of Hormuz caused a price rise of energy on a global scale and contributed to the increase in the cost of several essential goods. During the conflict, Iran allowed some ships to pass upon payment of transit fees, an unprecedented practice on a sea route long considered international.
Subsequently, the US provided military support to ensure the passage of other oil tankers, but the volume of traffic remained well below pre-war levels.
The agreement also provides for the lifting of the US blockade of Iranian ports and establishes the objective of returning the Strait of Hormuz to pre-conflict traffic levels within a period of 30 dias.
A source from the Swiss government says that, for now, the plan is for the US and Iran, together with Pakistan, Qatar and other countries involved, to meet on Friday in Bürgensstockin Switzerland, for initial negotiations on the implementation of the peace agreement.
