Iran MP says draft US memo includes $300bn reconstruction pledge

Iranian lawmaker Meysam Zohourian said a current outline of a memorandum of understanding between Tehran and Washington includes lifting the US naval blockade within 30 days, the withdrawal of American forces from areas around Iran and the reopening of the Strait of Hormuz by Iran within the same period.

Zohourian, secretary of parliament’s Economic Committee, wrote on X that the outline also includes declaring an end to the war, including in Lebanon, a commitment by both sides not to use force against each other, and respect for each other’s sovereignty and territorial integrity.

He said a final agreement would be subject to a 60-day period that could be extended by mutual consent.

According to Zohourian, the draft includes a promised $300 billion reconstruction program for Iran if a final agreement is signed, as well as ending US primary and secondary sanctions under a timetable.

He said the nuclear section covers Iran not building nuclear weapons and the creation of a mutually acceptable framework for the fate of uranium stockpiles, enrichment and all issues related to Tehran’s nuclear program in a final agreement.

Zohourian added that the outline includes freezing Iran’s nuclear program in return for Washington not increasing sanctions during the negotiation period.

He said other provisions include exemptions for Iranian oil and petrochemical sales and related services, as well as the gradual release of Iran’s blocked funds by the United States if negotiations progress.