The text of the 14-point draft memorandum, as seen by Bloomberg News.

(Bloomberg) -- The US and Iran are expected to formally sign a memorandum of understanding on June 19 in Switzerland, paving the way for 60 days of talks aimed at ending their war for good and putting strict new limits on Iran's nuclear program.

1. The Islamic Republic of Iran and the United States, together with their allies in the current war, declare upon the signing of this Memorandum of Understanding an immediate and permanent end to the war on all fronts, including Lebanon, and undertake that from now on they will not launch any hostile action against each other, and will refrain from the threat or use of force against each other. The final agreement will confirm the provisions of this Article and the remaining Articles.

2. The Islamic Republic of Iran and the United States undertake to respect each other's sovereignty and territorial integrity, and to refrain from interfering in each other's internal affairs.

3. The Islamic Republic of Iran and the United States undertake to negotiate and reach a final agreement within a maximum period of 60 days, extendable by mutual consent.

4. Immediately upon the signing of this Memorandum of Understanding, the United States Lift the naval blockade and prevent any interference or obstruction against the Islamic Republic of Iran, and restore traffic within a maximum of 30 days to its full capacity; the traffic of ships shall be proportional to the pre-war volume of traffic on the part of the Islamic Republic of Iran. The United States also undertakes to withdraw its forces from the surrounding areas within 30 days after the final agreement.

5. Upon signing this Memorandum of Understanding, the Islamic Republic of Iran will immediately take steps to ensure that the movement of merchant ships from the Persian Gulf to the Sea of Oman and vice versa is resumed within 30 days to the pre-war volume, taking into account the need for the removal of technical obstacles and the neutralization of mines by Iran.

6. The United States undertakes, together with its regional partners, to create a comprehensive plan agreed upon by both parties for the rehabilitation and economic development of the Islamic Republic of Iran, While ensuring financing of at least $300 billion. The implementation mechanism of this plan, as part of the final agreement, will be formulated within 60 days.

7. The United States commits to ending, on a schedule to be agreed upon as part of the final agreement, all types of sanctions currently facing the Islamic Republic of Iran, including resolutions of the United Nations Security Council and the Board of Governors of the International Atomic Energy Agency (IAEA), and all unilateral U.S. sanctions, both primary and secondary.

8. The Islamic Republic of Iran reiterates that it will never produce nuclear weapons. The Islamic Republic of Iran and the United States have agreed that the fate of enriched material and the fate of all other mutually agreed nuclear-related issues, including Iran's nuclear needs, will be adequately addressed in a final agreement; the final agreement will confirm the provisions of this Article.

9. The Islamic Republic of Iran and the United States agree that, pending a final agreement, they will maintain the status quo: Iran will maintain the status quo on its nuclear program, and the United States will not impose new sanctions on Iran or strengthen its forces in the region.

10. The United States undertakes that immediately after the signing of this Memorandum of Understanding, and until the date of the lifting of sanctions, the United States Treasury Department will issue waivers for exports of Iranian crude oil, petrochemical products and their derivatives, and all related services, including banking, insurance, transportation, and the like.

11. The United States undertakes that, in light of the progress of negotiations towards a final agreement, frozen or restricted funds and assets of the Islamic Republic of Iran will be released and made fully available. These funds, whether held in the master account or transferred, will be used for any final beneficiary payment determined by the Central Bank of the Islamic Republic of Iran and will be fully available for use. The United States undertakes to issue all necessary permits and licenses on this basis.

12. The Islamic Republic of Iran and the United States agree that an implementation mechanism will be established to oversee the successful implementation of and future commitment to the Final Agreement.

13. Following the signing of this Memorandum of Understanding, and upon receipt of assurances regarding the commencement of implementation of Articles 4, 5, 10, and 11 of this Memorandum of Understanding, and the continued implementation of these steps, the Islamic Republic of Iran and the United States will enter into negotiations for a Final Agreement solely with respect to the remaining Articles.

14. The final agreement will be approved through a binding resolution of the UN Security Council

SOURCE

What is being signed is a Memorandum of Understanding, not a Treaty. All 14 points will be violated within a month in my humble opinion - that it's back to bombs.

A Memorandum of Understanding (MoU) is a flexible, usually non-binding document that outlines the intentions and general framework for cooperation between two or more parties. It serves as a preliminary agreement expressing goodwill and shared goals, often used in international relations, business, academia, and research. While most provisions are not legally enforceable, certain clauses (such as confidentiality) may be binding. MoUs are quick to negotiate, require no legislative ratification, and allow parties to walk away easily with minimal consequences.

In contrast, a Treaty is a formal, legally binding agreement under international law, primarily between sovereign states. It creates enforceable rights and obligations, typically requires ratification by legislatures, and carries significant diplomatic and legal repercussions if breached. Treaties are used for enduring commitments on major issues such as trade, security, territory, or the environment.Key difference: An MoU is like an “engagement” — a statement of intent without firm commitment — while a Treaty is like a “marriage” — a solemn, binding contract with clear obligations. The title alone does not determine status; courts and international bodies focus on the document’s language, context, and substance. Both tools promote cooperation, but they differ sharply in formality, enforceability, and level of commitment.

So that's pretty much what had been predicted. An MoU for now leading to a final binding agreement within 60 days. However the Straits of Hormuz will open very quickly after the MoU signing. The US 'and its regional partners' will come up with 300 billion for Iran and the US will lift sanctions and let Iran have access to its own funding again (that was frozen). Iran again vows not to build a bomb and what happens to the nuclear enrichment materials gets kicked down the road. So how are we any better ahead than before the war - except to deplete billions in weaponry/ordinance, create a whole lot of damage and human suffering - like the misssile attack on a girl's school.

41 minutes ago, connda said:

What is being signed is a Memorandum of Understanding, not a Treaty. All 14 points will be violated within a month in my humble opinion - that it's back to bombs.

I think you're being generous in that estimation. Bibi wants no peace as that puts him in a pickle and could wind up getting him jailed. Were I a betting man, I'd give it 10 days tops.