Here are the main points from the memorandum of understanding signed between the United States and Iran to end the Middle East war, the text of which was made public by Washington and Tehran:

Permanent end to hostilities: The United States, Iran and their respective allies ‘declare an immediate and permanent termination of military operations on all fronts, including in Lebanon’.

They undertake ‘not to initiate any war or any military operation against each other and to refrain from the threat or use of force against each other, and ensuring the territorial integrity and sovereignty of Lebanon’.

Final agreement within 60 days: Iran and the United States commit to ‘negotiating and achieving the final deal in maximum 60 days, extendable with mutual consent’.

Lifting US blockade: The United States will ‘immediately’ begin the removal of its blockade of Iranian ports, which it imposed on April 13, and will bring it to an end within 30 days.

The United States also undertakes to ‘remove its forces from the proximity of the Islamic Republic of Iran within 30 days after the final deal’.

Reopening the Strait of Hormuz: Iran will make best efforts to ensure the ‘safe passage of commercial vessels with no charge, for 60 days only, from the Persian Gulf to the Sea of Oman, and vice versa. The traffic of commercial vessels will immediately start’ and be fully restored within 30 days, once the Hormuz Strait has been cleared of mines.

$300 billion plan: The United States and its regional partners will draw up a plan with ‘at least’ $300 billion ‘for the reconstruction and economic development’ of Iran.

Lifting sanctions: The United States undertakes to ‘terminate all types of sanctions against’ Iran, and to ‘make fully available for use the frozen or restricted funds and assets of the Islamic Republic of Iran upon the implementation of this MOU’.

The US Treasury will ‘issue waivers for the export of Iranian crude oil, petroleum products and derivatives, and all associated services, including banking transactions, insurances, and transportation’ with immediate effect, until the sanctions are lifted.

Nuclear: Iran reaffirms that ‘it shall not procure or develop nuclear weapons’. The disposition of Tehran’s enriched uranium will be resolved by ‘a mechanism that will be mutually agreed upon with the minimum methodology to be down-blending on site under the supervision of the IAEA’.

Pending the final deal, Iran will ‘maintain the current status quo of its nuclear programme’, and the United States ‘will not impose any new sanctions, and will not deploy additional forces in the region’.

Signing: Pakistan’s prime minister Shehbaz Sharif, who was involved in the mediation, said the memorandum was electronically signed on Thursday, Islamabad time, by United States president Donald Trump and Iran’s leader Masoud Pezeshkian.

A ceremony will be held in Switzerland on Friday to ‘commemorate this landmark event and commence with the technical level talks’, according to Sharif.

UN resolution: The final agreement will be endorsed by a binding resolution of the United Nations Security Council.