Per Woofun AI, the United States and Iran have formalized an understanding memorandum that mandates the immediate and permanent cessation of warfare across all fronts, including Lebanon, alongside a pledge to refrain from hostile actions. The agreement establishes a framework for normalizing relations, requiring both nations to respect sovereignty and non-interference while committing to negotiate a final binding resolution within 60 days, extendable by mutual consent.

Concurrently, the memorandum outlines significant economic and military concessions, including the US lifting maritime blockades and restoring Iran’s shipping capacity within 30 days, matched by Iran’s commitment to clear mines and restore Persian Gulf traffic. The US pledges to terminate all sanctions, including UN and IAEA measures, and grant Treasury exemptions for Iranian oil exports, while also committing to a $300 billion reconstruction plan and the release of frozen assets. Nuclear issues remain under negotiation, with Iran reaffirming its non-proliferation stance and maintaining the current status quo until the final agreement is ratified by a UN Security Council resolution.