US-Iran 14 point MoU includes a US commitment to lift sanctions, withdraw its forces from around Iran, lift the naval blockade, reopen the Strait of Hormuz, lift oil sanctions, and release frozen Iranian funds, Mehr reports; text still needs reviewing.
ECB's Rehn says the rate hike will help prevent inflation spillovers
[MARKET UPDATE] Energy hit and equities bid, though the move has somewhat pared, as Mehr News (semi-official Iranian outlet) reports on the US-Iran agreement; reminder, earlier reports suggested Iran was yet to come to a final conclusion
US-Iran 14 point MoU includes a US commitment to lift sanctions, withdraw its forces from around Iran, lift the naval blockade, reopen the Strait of Hormuz, lift oil sanctions, and release frozen Iranian funds, Mehr reports; text still needs reviewing.
Iranian official says the US-Iran agreement will have direct repercussions for Lebanon, Al Mayadeen reports
ENN Energy (2688 HK) said to mull dropping USD 12bln buyout of energy unit, Bloomberg reports
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- US is required to present a plan to rebuild Iran’s economy, while the final negotiations between the two countries should focus on nuclear and economic issues, without discussing Iran’s missile program. The draft needs to be finalised in the relevant institutions.
- "As the Foreign Ministry spokesperson announced, this text still needs to be reviewed and finalized by the relevant institutions in Iran"
Full details:
- 1- Permanent and immediate cessation of war on all fronts, including Lebanon.
- 2- America's commitment to non-interference in Iran's internal affairs and respect for the sovereignty of the Islamic Republic of Iran.
- 3- Complete lifting of the naval blockade within 30 days
- 4- America's commitment to withdrawing its forces from around Iran
- 5- Reopening the Strait of Hormuz within 30 days with Iranian arrangements
- 6- Suspension of sanctions on the sale of oil, petrochemical products and derivatives and full access for Iran to its financial resources.
- 7- The need for the United States and its allies to present reconstruction plans for Iran worth at least $300 billion.
- 8- 60 days of negotiations to reach a final agreement based on nuclear issues and the complete lifting of primary, secondary, US sanctions and resolutions of the UN Security Council and the Board of Governors of the International Atomic Energy Agency
- 9- Reiterating Iran's commitment in the NPT not to produce nuclear weapons
- 10- During the negotiations, the United States has committed not to increase its forces in the region and will not impose new sanctions.
- 11- Release $24 billion in blocked Iranian funds during the 60-day period of final negotiations. Half of this amount must be made available to Iran before the negotiations begin.
- 12- Establishing a monitoring mechanism to implement the agreement.
- 13- The final agreement will be approved by a UN Security Council resolution.
- 14- The final negotiations will not begin before the release of half of Iran's frozen funds, the suspension of Iran's oil sanctions, and the lifting of the naval blockade. The final agreement will be made solely on the fate of enriched materials and enrichment, the lifting of sanctions, and the Iranian economic reconstruction program. Discussions about Iran's missile program and support for resistance groups have been definitively removed from the agenda
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