Bloomberg: Draft MOU Would Grant Immediate Waivers for Iranian Oil Exports, Outline $300 Billion Financing Push

BlockBeats reports that a final draft of a U.S.-Iran memorandum of understanding reviewed by Bloomberg says Washington would, upon signing, immediately issue waivers covering Iranian crude oil, petrochemical products, and related financial, insurance and transport services. The document also outlines a financing program of at least $300 billion aimed at supporting Iran's economic recovery and sets out a gradual process to unfreeze Iran's overseas assets. The draft says the two countries plan to sign the MOU in Switzerland on June 19, seeking to end a conflict that began in February. It calls for a permanent ceasefire across all fronts, including along the Lebanon border, and mutual commitments to refrain from the use of force. Under the draft, the United States would lift a maritime blockade and restore navigability in the Strait of Hormuz within 30 days, and would withdraw its military forces from surrounding areas within 30 days after the final agreement is signed. In return, Iran would pledge never to develop nuclear weapons, address the disposition of enriched materials and other nuclear issues in the final agreement, and restore commercial shipping routes from the Persian Gulf to the Gulf of Oman. The draft sets a deadline of up to 60 days for negotiating a final agreement, which would be endorsed through a binding United Nations Security Council resolution. Until a final deal is reached, Iran would maintain its current nuclear program, while the United States would refrain from imposing new sanctions or expanding its military presence in the region. The draft also says the United States would progressively unfreeze and restore access to Iran's frozen or restricted assets as talks advance. Trump has previously denied that the United States would directly provide $300 billion to Iran. People familiar with the matter said U.S. officials currently view any oil-sales waiver as mainly limited to Iranian crude already loaded onto ships, and not as a full resumption of exports.