Hormuz will be toll-free for 60 days; Iran to get $300 billion & more; What are the 14-points of Iran-US deal | Read here

The United States and Iran have signed a 14-point draft agreement aimed at ending hostilities and creating a framework for future negotiations on security, trade and nuclear issues. US President Donald Trump and Iranian President Masoud Pezeshkian digitally signed the document, which came into effect immediately. The agreement includes commitments on reopening the Strait of Hormuz, easing economic restrictions, limiting nuclear activities and establishing mechanisms for long-term monitoring and verification.

Under the agreement, Point 1 provides for the reopening of the Strait of Hormuz with no additional charges on vessels for 60 days. Point 2 commits the United States to lifting its naval blockade of Iranian ports within 30 days. Point 3 requires Iran to refrain from developing or acquiring nuclear weapons, while discussions on the future of its enriched uranium stockpile will continue through separate negotiations under international monitoring. The agreement also acknowledges that the nuclear issue remains the most sensitive aspect of bilateral relations and leaves several technical questions unresolved regarding uranium enrichment and existing nuclear facilities.

Economic provisions form a major part of the framework. Point 4 proposes a reconstruction and development package worth at least $300 billion for Iran. Point 5 provides for relief on Iranian oil exports through waivers and approvals covering energy sales, shipping, banking and insurance activities. Point 6 outlines a gradual lifting of US sanctions on Iran, while Point 7 provides for the release of frozen Iranian assets held abroad through a process to be determined in future negotiations.

The agreement also includes broader political and security commitments. Point 8 states that both countries will respect each other's sovereignty, territorial integrity and internal affairs. Point 9 calls for an immediate and permanent end to military confrontations involving the United States, Iran and their allies. Point 10 establishes that neither side will introduce major policy changes during negotiations, meaning Iran will not expand its nuclear activities while the United States will avoid imposing additional sanctions or military measures. Point 11 creates a joint monitoring mechanism to verify compliance with all commitments made under the memorandum.

The final section focuses on implementation and future negotiations. Point 12 states that not all issues will be negotiated immediately and prioritises the ceasefire, reopening of Hormuz, lifting of the naval blockade, oil export relief and access to frozen assets. Point 13 sets a target of 60 days for concluding a final agreement, with the possibility of extension through mutual consent. Point 14 provides that any final agreement will be submitted to the United Nations Security Council for approval through a formal resolution, potentially giving it international legal recognition. The framework also notes that future negotiations will focus extensively on unresolved aspects of Iran's nuclear programme, sanctions removal and verification mechanisms.