U.S. and Iran Reach Initial Agreement Framework

U.S. officials said negotiators are preparing to release the text of a memorandum of understanding reached with Iran. They described the document as vague and primarily intended to create conditions for further in-person talks. The officials stated that the one-and-a-half-page text does not include specific commitments on Iran's enriched uranium stockpile.

They added that Iran has conveyed additional concessions through back channels that are not written in the document.

The text states that Iran reiterates it will never produce nuclear weapons. It outlines financial relief measures, including access to a $300 billion development fund and the ability to sell oil and petrochemical products once the memorandum is signed.

U.S. officials said sanction waivers would be performance-based and tied to compliance with commitments on nuclear issues and navigation in the Strait of Hormuz. They noted the document does not specify timelines for asset releases.

Copies of the text have circulated among G7 officials meeting in France. U.S. officials said they are seeking to release the document before Friday while Iran completes internal processes. The next phase of talks is scheduled to begin Friday in Switzerland and will last 60 days. Officials described this period as a trial to assess Iran's compliance with the framework.