A 14-article draft US-Iran memorandum obtained by Bloomberg shows Washington would waive sanctions on Iranian crude, petrochemicals and related banking, insurance and shipping services as soon as the MOU is signed.
Article 6 also commits the United States and regional partners to secure at least $300 billion for Iran’s reconstruction and economic development, with a final implementation plan due within 60 days.
Reuters reported no US taxpayer money would fund the package, and more than half has already been pledged by companies from South Korea, Japan, Singapore and the United States.
The draft omits earlier disputed terms including 60 days of free passage through the Strait of Hormuz and any immediate release of $12 billion in frozen Iranian assets, instead tying asset access to progress toward a final deal.
The disclosures come as Trump faces conservative backlash over the still-unpublished agreement; Nikki Haley said day-one sanctions relief would mean “Iran won,” while Trump said he may release the text and read it publicly.
Amid conflicting US statements on sanctions, will the new Iran deal truly reopen the flow of oil to global markets?
With a 60-day deadline for a nuclear pact, is the fragile US-Iran truce a path to peace or a countdown to failure?
Inside the 2026 US-Iran Deal: $300 Billion Fund, Sanctions Relief, and the Strait of Hormuz Reopening
Overview
The US and Iran are moving toward a new agreement, with a Memorandum of Understanding set to be signed on June 19, 2026, in Switzerland. This deal launches a 60-day negotiation period focused on Iran’s nuclear program, where Iran agrees not to produce or acquire nuclear weapons and will keep its nuclear activities unchanged for now. In return, the US will allow Iran to dilute its enriched uranium under a future agreement. These steps aim to build trust and set the stage for a broader, comprehensive deal, while immediate economic and political impacts are already being felt in both countries.