Following is the full text of the memorandum published on Wednesday:

1. The Islamic Republic of Iran and the United States of America and their allies in the current war, by signing this Memorandum of Understanding, declare the immediate and permanent cessation of military operations on all fronts, including in Lebanon, and commit that from now on no war or military operation will be initiated against each other, and they will refrain from the threat or use of force against one another, and guarantee the territorial integrity and sovereignty of Lebanon. The final agreement will confirm the permanent end of the war on all fronts, including Lebanon, and the rest of this clause.

2. The Islamic Republic of Iran and the United States of America commit to respecting each other’s sovereignty and territorial integrity and refraining from interference in each other’s internal affairs.

3. The Islamic Republic of Iran and the United States of America commit to conducting negotiations and reaching a final agreement within a maximum period of 60 days, extendable by mutual consent.

4. Immediately upon signing this Memorandum of Understanding, the United States will begin lifting its naval blockade and any harassment or obstruction against the Islamic Republic of Iran, and will fully end the naval blockade within 30 days. During this period, shipping traffic will be maintained in proportion to pre-war traffic levels as established by the Islamic Republic of Iran. The United States also commits to withdrawing its military forces from the surrounding region of the Islamic Republic of Iran within 30 days after the final agreement.

5. Upon signing this Memorandum of Understanding, the Islamic Republic of Iran will make arrangements, to the best of its ability, for the safe passage of commercial vessels, free of charge for 60 days, from the Persian Gulf to the Sea of Oman and vice versa. Commercial shipping will begin immediately and will be fully established within 30 days, subject to the removal of technical and military obstacles and demining operations carried out by the Islamic Republic of Iran. The Islamic Republic of Iran will consult with the Sultanate of Oman regarding the future administration and maritime services in the Strait of Hormuz, in accordance with applicable international law and the sovereign rights of coastal states of the Strait of Hormuz, and will also exchange views with other Gulf coastal states.

6. The United States commits, together with its regional partners, to establish a definitive program agreed upon by both parties for the reconstruction and economic development of the Islamic Republic of Iran, with a minimum funding of 300 billion dollars. The implementation mechanism of this program will be finalized as part of the final agreement within 60 days. All necessary approvals, waivers, and permits for the relevant financial transactions will be issued by the United States.

7. The United States commits to ending all types of sanctions against the Islamic Republic of Iran, including United Nations Security Council resolutions, International Atomic Energy Agency Board of Governors resolutions, and all unilateral US sanctions, both primary and secondary, according to a timetable agreed as part of the final agreement. Both the Islamic Republic of Iran and the United States acknowledge the fundamental importance of ending the sanctions mentioned above and express their intention to address these issues promptly in negotiations to reach a mutual agreement.

8. The Islamic Republic of Iran reaffirms that it will not produce or acquire nuclear weapons. The Islamic Republic of Iran and the United States agree to resolve the status of stored enriched materials through a mutually agreed mechanism and in accordance with the timetable set in Clause 7, at a minimum through on-site dilution under the supervision of the International Atomic Energy Agency. The two sides also agree to discuss the issue of enrichment and other mutually agreed matters related to the nuclear needs of the Islamic Republic of Iran, based on a satisfactory framework to be agreed in the final agreement. The final agreement will confirm the provisions of this clause. Both sides also acknowledge the fundamental importance of the above nuclear issues and express their intention to address them promptly in negotiations to reach a mutual agreement.

9. The Islamic Republic of Iran and the United States agree to maintain the status quo until the final agreement is reached; Iran will maintain the status quo in its nuclear program, and the United States will not impose any new sanctions on Iran nor deploy additional military forces in the region.

10. The United States commits to immediately, upon signing this Memorandum of Understanding and until sanctions are lifted, issuing Treasury waivers for the export of Iranian crude oil, petrochemical products and derivatives, and all related services, including banking transactions, insurance, transportation, and others.

11. The United States commits to fully making available all restricted or frozen funds and assets of the Islamic Republic of Iran upon implementation of this Memorandum of Understanding. The United States and the Islamic Republic of Iran will mutually agree on the procedures for releasing these funds during negotiations. These funds, whether held in primary accounts or transferred, must be fully usable for payments to any final beneficiary designated by the Central Bank of the Islamic Republic of Iran. The United States commits to issuing all necessary approvals and licenses in this regard.

12. The Islamic Republic of Iran and the United States agree to establish an implementation mechanism to monitor the successful execution of this Memorandum of Understanding and future compliance with the final agreement.

13. Following the signing of this Memorandum of Understanding, and subject to the commencement of implementation of Clauses 1, 4, 5, 10, and 11 and the continuation of these measures, the Islamic Republic of Iran and the United States will begin negotiations on the final agreement exclusively on the remaining clauses.

14. The final agreement will be endorsed by a binding resolution of the United Nations Security Council