US-Iran Draft Agreement Revealed: Iran May Get Oil Exemption and $300 Billion Development Fund
According to a near-final draft agreement, Iran, as part of a deal with the United States, will receive multiple economic incentives, including immediate oil sales, access to a $300 billion development fund, and a pathway to eventually access frozen assets.
This draft memorandum shows that if Iran ends its control over the Strait of Hormuz and reaffirms its commitment to never seek nuclear weapons, the U.S. will provide extensive economic rewards. Both sides are scheduled to formally sign the agreement in Switzerland on June 19, followed by 60 days of negotiations to promote ending the conflict and imposing new strict restrictions on Iran's nuclear program.
According to the draft, the U.S. Treasury will immediately issue exemptions for exports of Iranian crude oil, petrochemicals, and their derivatives after the memorandum is signed. The U.S. will lift the naval blockade and jointly ensure with Iran that shipping in the Strait of Hormuz is restored to pre-war levels within 30 days.
The draft also states that the U.S. and its regional partners will formulate a plan to help Iran rebuild and promote economic development, providing at least $300 billion in funding. Regarding the release of frozen assets, the document's wording is more vague, stating only that the funds will be released and fully available, but without a clear timeline.
Both sides have not yet released the full text of the agreement, and their public statements are inconsistent. Trump said the agreement would be released sometime after the signing ceremony on Friday, while another senior U.S. official said the text could be made public within a day or two.
A U.S. official asked to comment said that Iran would only receive the benefits of the agreement if it fulfills its commitments, which include never developing nuclear weapons, destroying enriched uranium, and allowing free navigation of ships in the Strait of Hormuz.
Trump previously denied that the U.S. would pay Iran $300 billion, emphasizing that the draft only indicates the U.S. and its partners will ensure that amount of financing. The agreement also poses political risks for Trump, as he has long criticized the 2015 nuclear deal between the Obama administration and Iran as funneling huge sums to Tehran.
In addition to economic arrangements, the draft also calls for an end to war on all fronts, including Lebanon, requiring the consent of Israeli Prime Minister Netanyahu. The draft also proposes that the U.S. withdraw its military forces from the surrounding region within 30 days after a final agreement is reached.
On sanctions, the U.S. commits to terminating various sanctions against Iran under the framework of the final agreement according to a mutually agreed timeline, including those by the UN Security Council, the IAEA Board of Governors, and U.S. unilateral primary and secondary sanctions.
The draft does not directly address the disposition of Iran's enriched uranium stockpile, only stating that related issues will be properly resolved in the final agreement. Senior U.S. officials have repeatedly emphasized that Iran will only gradually receive economic benefits after fulfilling U.S. demands.
Below are the core terms of the draft memorandum: both sides immediately and permanently cease war; mutual respect for sovereignty and territorial integrity; final agreement reached within 60 days at the latest; U.S. immediately lifts naval blockade and restores shipping; Iran resumes commercial vessel passage and restores to pre-war levels; establish an economic development plan of no less than $300 billion; terminate sanctions according to a timeline; Iran reaffirms never to build nuclear weapons; both sides establish a mechanism to monitor implementation of the final agreement; final agreement will be approved by a UN Security Council resolution.
Editor: Li Tong
