Bloomberg: Draft Shows U.S. Plans to Immediately Allow Iran Oil Exports and Push $300 Billion Financing Plan

BlockBeats News, June 17th. According to Bloomberg, the final draft of the U.S.-Iran Understanding Memorandum shows that the United States will immediately issue waivers for Iranian crude oil, petrochemical products, and related financial, insurance, and transportation services upon the signing of the agreement. The U.S. will also promote a $300 billion financing plan to support Iran's economic recovery and gradually unfreeze Iran's overseas assets.

The draft indicates that Iran and the U.S. plan to sign the Memorandum of Understanding in Switzerland on June 19th to end the conflict that has been ongoing since February this year. The agreement stipulates that both parties will permanently cease fire on all fronts, including towards Lebanon, and commit to no longer use force against each other. The U.S. also pledges to lift the maritime blockade, restore navigation through the Strait of Hormuz within 30 days, and withdraw military forces from the surrounding areas within 30 days after the final agreement is signed.

In exchange, Iran commits to never develop nuclear weapons and to address the disposition of enriched materials and other nuclear issues in the final agreement, while also restoring commercial shipping between the Persian Gulf and the Gulf of Oman. Both sides will negotiate the final agreement within a maximum of 60 days, which will be endorsed by a binding resolution of the United Nations Security Council.

The draft also indicates that before the final agreement is reached, Iran will maintain its current nuclear program status, and the U.S. will not impose additional sanctions or strengthen regional military deployments. The U.S. promises that as the negotiations progress, Iran's frozen or restricted assets will be gradually unfrozen and made available for use.

However, former President Trump previously denied that the U.S. would provide $300 billion in direct funding to Iran. Sources familiar with the matter stated that the U.S. currently understands the exemption for oil sales mainly applies to Iranian crude oil that has already been loaded onto ships and does not imply a full resumption of exports.