A 14-point document that appears to outline the full terms of the US-Iran framework deal has been leaked, revealing that Tehran has pledged never to produce nuclear weapons and to immediately begin reopening the Strait of Hormuz. In exchange, Washington has agreed to a set of financial incentives, including the lifting of sanctions and a reconstruction fund worth $300 billion (€258.5 billion).
The draft, which was circulated during the G7 summit in Évian, France, has not been officially confirmed by either Washington or Tehran. US President Donald Trump appeared irritated by the leaks, telling reporters on the margins of the G7 that "no one knows what it (the deal) is, but it will be very strong." He also warned that if Iran does not comply with the terms, the US would get "back to bombing."
Sources speaking to Euronews said that the US delegation shared the contents of the memorandum of understanding with other G7 leaders. One diplomat described it as a roughly two-page document that could serve as the basis for a deal. The document states in article 1 that "Iran and the US, together with their allies in the current war, declare upon the signing of this MoU an immediate and permanent end to the war on all fronts, including Lebanon, and commit that from now on they will refrain from the threat or use of force against each other."
It remains unclear whether the mention of "allies" refers to Israel, which has repeatedly stated that its leadership was not consulted for what it called "Trump's deal" and that it would continue its own military offensives. Israel's cessation of its offensive against Iran's proxy Hezbollah in Lebanon has been a key demand from Tehran for any peace process, and the inclusion of Lebanon in the joint commitment for a "permanent end to the war on all fronts" is indicative of this. It is also unclear whether the mention of allies encompasses European nations, which have provided defence capabilities to neighbouring countries that came under Iranian attacks during the active phase of the war that began in February.
Strait of Hormuz to Reopen Within a Month
According to the document, the US commits to lift the naval blockade of Iranian ports "immediately upon signing," while 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." Both sides also commit to restoring maritime traffic to full capacity within a maximum of 30 days, a timeframe that includes "the removal of technical obstacles and the neutralisation of mines by Iran." US officials acknowledged that a return to pre-war capacity could take longer.
At the G7, Trump reiterated that the reopening of the strait would take place on Friday, coinciding with a ceremony in Lucerne, Switzerland. US Vice President JD Vance, rather than Trump, is expected to attend. G7 leaders insisted in a joint declaration that full freedom of navigation must be restored. The document does not fully clarify whether Iran will continue to assert its longstanding claim of sovereignty over the Strait of Hormuz, under which it would regulate navigation and charge passage fees, as Tehran has repeatedly stated since the start of the war. Global shipping companies have also noted that resuming navigation would require new planning for vessels, crews, lanes, insurance, and other aspects.
A diplomat familiar with the discussions separately told Euronews that European countries would not pay a toll for passage and had been reassured by Trump administration officials that the waterway would reopen without requiring any payments. European leaders, led by French President Emmanuel Macron, suggested that a maritime mission could be deployed to ensure safe passage — a proposal that was included in the G7 joint declaration.
Billions on the Table
In the document, the US accepts and commits to several key Iranian financial demands. The US and its regional partners commit to financing at least $300 billion for the "rehabilitation and economic development plan of Iran," unfreezing funds and assets based on negotiation progress, lifting "all types of sanctions" on Iran, and providing US Treasury waivers for exports of Iranian crude oil and all associated services. Iran has repeatedly pushed for war reparations and reconstruction payments as a condition for agreeing to a peace deal.
In exchange, Iran has unconditionally accepted Washington's crucial demand, stating directly that Tehran "reiterates it will never produce nuclear weapons." Iran has insisted that it previously agreed not to produce nuclear weapons as part of the JCPOA deal with the Obama administration, which was then annulled by Trump. Former US national security adviser John Bolton, who worked for Trump in his first term, told Euronews the deal is a "bad" outcome for US and global security, suggesting that the US president was "played like a violin" by Iranian negotiators. According to Bolton, the deal does not guarantee the dismantling of Iran's nuclear programme and would see Iran financially compensated through the lifting of sanctions. Trump said sanctions would only be lifted if Tehran behaves, while Vance said other countries may want to invest in Iran's future, but only if it acts like a "normal country."
As for the Europeans, European Commission President Ursula von der Leyen said the EU will only ease its own sanctions if Iran fully complies with the deal. The G7 leaders' joint declaration welcomed Trump's efforts, acknowledged the framework agreement, and pointed to renewed momentum in the Middle East. The deal is set to be formalised at a ceremony on Friday in Lucerne, though it remains unclear whether the leaked draft will be the final version. For more context on the G7 discussions, see G7 Leaders Converge on Évian After US-Iran Framework Deal.
