The official Iranian news agency IRNA on Wednesday published the full text of a 14-point memorandum of understanding between Iran and the US.

The document outlines a framework for ending hostilities, launching negotiations toward a final agreement and addressing issues ranging from sanctions and maritime security to Iran's nuclear program and reconstruction.

Key provisions of the draft:

- Immediate and permanent cessation of military operations on all fronts, including Lebanon, with commitments not to resort to force and to guarantee Lebanon's sovereignty.

- Mutual respect for sovereignty and territorial integrity and non-interference in each other's internal affairs.

- Negotiations on a final agreement within 60 days, extendable by mutual consent.

- Lifting of the US naval blockade and related restrictions, with complete termination within 30 days and eventual withdrawal of US forces from areas surrounding Iran after a final agreement.

- Restoration of commercial shipping and navigation through the Strait of Hormuz, with Iran consulting Oman and other Gulf littoral states on its future administration.

- Creation of a reconstruction and economic development program worth at least $300 billion for Iran with US and regional partner support.

- Commitment by the US to end all sanctions on Iran, including UN, IAEA-related, and primary and secondary US sanctions, under a mutually agreed timetable.

- Iran's reaffirmation that it will neither produce nor acquire nuclear weapons, alongside negotiations on enriched material and civilian nuclear activities.

- Maintenance of the status quo during negotiations, with Iran preserving its current nuclear program and the US refraining from new sanctions or additional military deployments.

- Immediate US waivers allowing exports of Iranian oil and petrochemical products, including related banking, insurance and transportation services.

- Release and full usability of frozen Iranian funds and assets, with procedures to be agreed during negotiations.

- Establishment of a joint implementation mechanism to monitor compliance with the memorandum and future final agreement.

- Launch of negotiations on a final agreement once implementation begins on key provisions, including the ceasefire, maritime measures, oil waivers and access to frozen assets.

- Endorsement of the final agreement through a binding UN Security Council resolution.

Earlier on Wednesday, US officials released a draft of the understanding with Iran to end their conflict. The signing ceremony is scheduled for Friday in Switzerland. (AA)

Update news