The U.S. and Iran reached a dramatic deal on a memorandum of understanding (MOU) to end the war, but the nuclear issue—the ultimate cause of the conflict—was pushed to a final round of negotiations over the next 60 days. Moreover, even the draft MOU released by Iranian media foreshadowed conflict, with the U.S. opposing a clause stating that Iran would immediately recover half of its frozen funds.
On the 15th (local time), Iran's semi-official Mehr News Agency released a draft of the 14-article MOU to end the war between the U.S. and Iran via its English-language website. Mehr reported the content citing a figure named "Mohammadi," presumed to be Mehdi Mohammadi, strategic advisor to Iran's chief negotiator and parliamentary speaker Mohammad Bagher Ghalibaf. Unlike the MOU content Mehr disclosed on the 12th, which infuriated U.S. President Donald Trump—who called it "really vile"—the White House issued no official statement on this report.
The two sides agreed to negotiate Iran's nuclear program, including uranium disposal—long considered the negotiation's biggest hurdle—over 60 days. Article 9 of the agreement reported by Mehr also included a clause stating it "reaffirms Iran's obligations under the Nuclear Non-Proliferation Treaty (NPT) not to develop nuclear weapons."
The two sides diverged over the specific scope of the ban on Iran's nuclear program. In a phone call with the New York Times (NYT), President Trump emphasized the achievement, saying, "Iran will not be able to develop or purchase nuclear weapons." Mohammadi, by contrast, explained that the U.S. demands regarding the nuclear program were limited to highly enriched uranium, and that Iran's obligations were limited to its NPT obligations and the disposal of its stockpile of 60% enriched uranium. Mohammadi said, "(In the context of disposing of the stockpiled uranium) dilution is being discussed," adding, "If the material is diluted, it remains in the country." Iran is expected to maintain its firm opposition to transferring uranium abroad, predicated on dilution.
Former U.S. President Barack Obama, who led the 2015 Iran nuclear deal (JCPOA), rebutted claims that this MOU represented progress over the past. In an ABC interview, he said, "Even if a new agreement is reached, it is unlikely to be significantly different from or better than the existing one."
The two sides also gave directly opposing accounts of whether free passage through the Strait of Hormuz at pre-war levels would be possible. On Truth Social that day, President Trump said, "I am fully authorizing the free opening of the Strait of Hormuz while also authorizing the immediate lifting of the U.S. Navy's blockade." Meanwhile, Fars News Agency claimed that in the final stages of negotiations, the MOU document stipulated that "the future management of maritime navigation services in the strait will be decided by Iran and Oman." Fars said, "Specifying the term 'maritime services' is the U.S. officially recognizing Iran's right to collect fees," adding that "Iran intends to allow free passage of vessels only for the next 60 days."
While the draft released by Mehr included "lifting first, negotiating later" for Iran's frozen funds, the U.S. position is to release the frozen funds according to Iran's compliance. According to Iran's draft MOU, the U.S. must suspend sanctions on the sale of Iranian crude oil and petroleum products and, together with allies, present a reconstruction plan for Iran worth at least $300 billion (about 453 trillion won). The most notable clause stipulates the release of $24 billion (about 36 trillion won) in frozen Iranian funds during the final negotiation period, with half of that—$12 billion—to be released before negotiations.
Rebuttals from the U.S. side emerged immediately. A senior U.S. official cited by U.S. outlet Axios said, "The claim that they will unconditionally receive $12 billion is bluster," adding, "The frozen funds will never be released unless Iran fulfills its commitments first." U.S. Defense Secretary Pete Hegseth also denied Iran's claims, telling CBS, "This agreement is based on performance." Such differences remain a spark for conflict and appear likely to become a hurdle in the final negotiations. As for the $300 billion Iran reconstruction plan, the U.S. is referring not to aid but to an investment fund involving neighboring countries.
