Read the US account of unreleased 14-point Iran ceasefire memorandum

US-Iran MoU: What’s in it for Washington and regional stakeholders? | This is America

A senior United States official has read the text of a memorandum of understanding to end the US-Israel war with Iran during a call with reporters.

The account is the clearest yet from the administration of US President Donald Trump on the deal, which is scheduled to be signed in a ceremony by both sides on Friday.

Neither the US nor Iran has released a physical copy of the agreement. Iranian officials have not confirmed the US version of the text.

The US official said the memorandum of understanding will halt fighting on all fronts in Lebanon, lift the US naval blockade, and open the Strait of Hormuz to maritime traffic.

The initial agreement, as told by the official, will kick off 60 days of negotiations on Iran’s nuclear programme, future administration of the Strait of Hormuz, the lifting of US sanctions, the unfreezing of Iranian assets and a $300bn US-backed reconstruction plan.

It will also see the US immediately grant sanctions waivers for Iran’s fossil fuel industry.

The official said the initial deal had already been signed electronically by the US and Iran, and that both sides remain free to walk away before the planned signing on Friday.