Draft Agreement Between the US and Iran Outlines Ceasefire and Nuclear Commitments

CNN has obtained a draft of a 14-point agreement between the US and Iran, which includes provisions for a ceasefire, the reopening of the Strait of Hormuz, and Iran's commitment not to produce nuclear weapons. The draft has not been officially released, and its final text may change before the anticipated signing on Friday in Switzerland. The agreement outlines that the US will allow Iran to sell oil and petrochemical products and may grant access to a $300 billion development fund contingent on Iran's compliance with nuclear commitments. The document was confirmed by multiple diplomatic sources, although US officials have characterized it as a 'political document' that does not encompass all commitments made by Iran regarding its nuclear program. The semi-official Iranian news agency Tasnim has described leaked versions of the draft as inaccurate. The formal signing of the Memorandum of Understanding is expected to trigger a 60-day period for negotiating final terms.