The United States and Iran formally signed a memorandum of understanding on Friday (June 19) in Switzerland, the most advanced in years, paving the way for the launch of a 60-day negotiation process aimed at ending the war and imposing new restrictions on Iran's nuclear program.

After weeks of ambiguity and conflicting leaks about the content of the agreement, Bloomberg has unveiled the 14-point draft memorandum, which outlines the political, security and nuclear framework for the next phase between the two sides.

The Islamic Republic of Iran and the United States, together with their allies in the ongoing war, by signing this memorandum of understanding, declare an immediate and definitive end to the war on all fronts, including Lebanon, and undertake not to launch any hostile act against each other, and to refrain from the threat or use of force against any of them.

The Islamic Republic of Iran and the United States undertake to respect their respective sovereignty and territorial integrity and to refrain from interfering in their respective internal affairs.

3. The Islamic Republic of Iran and the United States undertake to negotiate and reach a final agreement within a maximum period of 60 days, extendable by mutual consent.

Washington withdraws troops in 30 days

Upon the signing of this Memorandum of Understanding, the United States shall lift the naval blockade and prevent any interference or obstruction against the Islamic Republic of Iran, and shall restore maritime traffic to full capacity within a maximum period of 30 days, provided that the movement of ships shall be proportional to the volume of pre-war navigation by the Islamic Republic of Iran, and the United States undertakes to withdraw its forces from the surrounding areas within 30 days from the date of the final agreement.

5. Once this MoU is signed, the Islamic Republic of Iran will immediately take steps to ensure the resumption of commercial vessel movement from the Gulf to the Sea of Oman and vice versa within 30 days to pre-war volume, taking into account the need for the removal of technical obstacles and demining by Iran.

The United States, in cooperation with its regional partners, undertakes to develop a comprehensive plan agreed upon between the parties for the rehabilitation and economic development of the Islamic Republic of Iran, with funding guaranteed of at least $300 billion, and the implementation mechanism of this plan will be put in place, as part of the final agreement, within 60 days.

The United States is committed to ending all types of sanctions currently facing the Islamic Republic of Iran in accordance with a timetable to be agreed upon as part of the final agreement, including UN Security Council resolutions and the IAEA Board of Governors, and all unilateral U.S. sanctions, whether primary or secondary.

Iran: It will never produce nuclear weapons

The Islamic Republic of Iran reaffirms that it will never produce nuclear weapons, and the Islamic Republic of Iran and the United States have agreed that the fate of the enriched material and the fate of all other nuclear issues agreed between the parties, including Iran's nuclear needs, will be adequately addressed in a final agreement and this final agreement will confirm the provisions of this article.

The Islamic Republic of Iran and the United States agree that pending a final agreement, they will maintain the status quo: Iran will maintain the status quo with respect to its nuclear program, and the United States will not impose new sanctions on Iran or strengthen its forces in the region.

10. The United States undertakes that immediately upon the signing of this Memorandum of Understanding and until the date of sanctions lifting, the United States Department of the Treasury will issue exemptions for exports of Iranian crude oil, petrochemical products and derivatives, and all related services, including banking, insurance, transportation, and the like.

Washington: Release of frozen Iranian funds and assets

In the light of the progress made in the negotiations towards a final agreement, the United States undertakes to release and make available in full to the Islamic Republic of Iran the frozen or restricted funds and assets, whether deposited in the main account or transferred, for any final payment to the beneficiary determined by the Central Bank of the Islamic Republic of Iran, and will be available for full use, and the United States undertakes to issue all necessary authorizations and licenses accordingly.

12. The Islamic Republic of Iran and the United States agree to establish a mechanism to oversee and adhere to the successful implementation of the Final Agreement in the future.

Following the signing of this memorandum of understanding, and upon receipt of assurances regarding the commencement of the implementation of articles 4, 5, 10 and 11 of the memorandum of understanding, and the continued implementation of these steps, the Islamic Republic of Iran and the United States will enter into negotiations to reach a final agreement with respect to only the remaining articles.

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