The Trump administration has released details of its newly signed memorandum of understanding with Iran, outlining a 60-day negotiation period, immediate waivers for Iranian oil exports, and a proposal for at least $300 billion in future economic development and reconstruction efforts.
According to Fox News, senior administration officials discussed the agreement during a call with reporters, describing it as a framework designed to keep negotiations moving while both sides work toward a broader deal focused on Iran’s nuclear program.
One of the most closely watched provisions would allow Iranian crude oil exports to resume immediately. According to officials, the U.S. Treasury Department will issue waivers covering oil exports, petroleum products, related banking transactions, insurance services, and transportation activities.
Administration officials argued that the oil waivers represent the primary benefit Iran would receive before a final agreement is completed. They said the arrangement would improve visibility into Iranian oil sales and could help lower global energy prices.
At the same time, officials acknowledged they remain deeply skeptical of Iran’s intentions. One senior official said negotiators entered the talks expecting Iran could attempt to deceive negotiators, making strong monitoring and enforcement measures essential to any permanent agreement.
The memorandum also calls for the United States and regional partners to create a framework for at least $300 billion in reconstruction and economic development projects inside Iran. Officials stressed that the provision does not obligate the United States to contribute the funds directly. Instead, it would allow outside investment if Iran fulfills the terms of a future agreement.
The document guarantees toll-free commercial transit through the Strait of Hormuz during the negotiation period. Longer-term arrangements involving the strategic waterway would be addressed in future talks involving Iran, Oman, and other Gulf nations.
A major issue remains unresolved: the future of Iran’s enriched uranium stockpile and nuclear enrichment activities.
Officials said both sides agreed to continue negotiations on those topics. At a minimum, they said, enriched uranium would be down-blended under the supervision of the International Atomic Energy Agency. One administration official described that concession as both a limitation of the current agreement and a significant step forward.
The memorandum also outlines a path toward ending United Nations sanctions, primary U.S. sanctions, and secondary sanctions if Iran complies with future obligations.
During the 60-day negotiation window, the United States agreed not to impose new sanctions or deploy additional troops. Officials said American forces would return to pre-Operation Epic Fury posture levels after a final agreement is reached.
The administration said details of the memorandum were withheld for several days at Iran’s request to accommodate domestic political considerations while negotiations moved forward.