Kathmandu. The United States and Iran have agreed to a 14-point memorandum of understanding (MoU) on ending tensions between the two countries, reopening the Strait of Hormuz, and finalizing a final agreement on nuclear and economic sanctions.

According to international media, the agreement was approved by US President Donald Trump and Iranian President Massoud Pezeshkian. This has ushered in a new phase in the dialogue process between the two countries, effective immediately.

According to the agreement, the two sides agreed to immediately reopen the Strait of Hormuz, manage Iran’s enriched uranium stockpile and ease economic sanctions in a phased manner.

A senior US administration official was quoted as saying that the agreement lays the groundwork for the immediate opening of the Strait of Hormuz, binding Iran to a commitment not to develop nuclear weapons, and gradually increasing economic and sanctions concessions as Tehran behaves positively.

A spokesman for Iran’s Foreign Ministry also confirmed that the final draft of the agreement had been signed by both sides. According to him, consultations with other countries, including Oman, have been going on for a long time and most of the issues related to the management of the Strait of Hormuz have already been agreed.

The agreement aims to end military activities immediately and permanently, cease military activities related to Lebanon and conclude negotiations on the final agreement within 60 days. If necessary, this period can be extended with the consent of both the parties.

The US will begin the process of lifting maritime blockades and related sanctions, and Iran will ensure free movement of commercial ships through the Strait of Hormuz for an initial 60 days.

The agreement also includes a phased lifting of sanctions, freeing up frozen Iranian assets, special waivers from US Treasuries, and reconstruction and economic development programs worth about $250-300 billion.

Iran has pledged not to develop or acquire nuclear weapons, and the future of enriched uranium stockpiles will be discussed under the supervision of the International Atomic Energy Agency (IAEA). However, no official detailed joint declaration has been made public by the concerned parties on this agreement. ANI