A leaked framework connects peace, sanctions relief and nuclear guarantees.
LUCERNE, SWITZERLAND — June 2026. Iran would formally renounce the development of nuclear weapons, while the United States and its regional partners would promote a reconstruction and economic development programme worth at least $300 billion, according to a leaked draft agreement intended to end the conflict and restore stability across the Middle East.
The proposal forms part of a 14-point memorandum of understanding reportedly circulated during the Group of Seven summit in France. Although neither Washington nor Tehran has confirmed that the document represents the final version, its provisions outline a broad diplomatic framework combining a permanent ceasefire, sanctions relief, maritime security and restrictions on Iran’s nuclear programme.
The first section calls for an immediate and permanent end to hostilities on all fronts, including Lebanon. Iran, the United States and their respective allies would be required to stop military operations, threats and any further use of force, while also committing themselves to respect each other’s sovereignty and territorial integrity.
The inclusion of Lebanon is particularly significant because Iran has demanded an end to Israeli operations against Hezbollah as part of any wider settlement. However, uncertainty remains over whether Israel participated directly in the negotiations or would consider itself bound by an agreement reached principally between Washington and Tehran.
A central part of the framework concerns the reopening of the Strait of Hormuz, one of the world’s most important routes for oil and gas shipments. The United States would lift its naval blockade of Iranian ports after the agreement is signed, while Iran would take responsibility for removing mines, navigation barriers and other threats affecting commercial shipping.
Both governments would seek to restore maritime traffic to its previous capacity within 30 days. That process could nevertheless take longer because shipping companies would need to reorganise routes, crews, insurance policies and security arrangements before returning to the area.
European governments have also sought guarantees that commercial vessels will not face additional Iranian transit charges once the strait is reopened. Discussions have included the possible creation of an international maritime mission to protect merchant shipping and support freedom of navigation during the transition.
The most economically ambitious element is the proposed $300 billion reconstruction and development package for Iran. The draft indicates that the United States and its regional partners would help mobilise the funds, although it does not identify the governments, financial institutions or private investors expected to provide the capital.
Washington has maintained that American taxpayers would not directly finance the programme. Instead, Gulf countries, international institutions and private investors could participate in projects involving infrastructure, energy, transportation and the restoration of areas damaged during the conflict.
The economic plan would be accompanied by a gradual easing of sanctions. The US Treasury Department would issue waivers allowing Iran to resume exports of crude oil, petrochemical products and related goods, together with the banking, insurance and transportation services required for those transactions.
Iran would also recover access to funds and assets frozen abroad as negotiations progress. Once released, those resources would be transferred under the authority of Iran’s Central Bank, which would determine how the money is allocated within the country.
In exchange for these economic measures, Tehran would formally reaffirm that it will never manufacture or acquire nuclear weapons. Iranian officials have argued that the country accepted a similar obligation under the 2015 nuclear agreement, which restricted uranium enrichment and other activities in return for sanctions relief.
That earlier accord weakened after Donald Trump withdrew the United States from it during his first presidential term. The leaked proposal therefore attempts to rebuild a diplomatic structure while providing broader economic and security incentives than those included in the previous agreement.
The current draft does not appear to demand the immediate dismantling of all Iranian nuclear facilities. Instead, the detailed future of Tehran’s enriched uranium stockpile, nuclear infrastructure and civilian atomic-energy programme would be negotiated during the next stage of talks.
This aspect has generated criticism from opponents of the agreement, who argue that a political declaration may not be sufficient without intrusive inspections and verifiable restrictions. Former US national security adviser John Bolton has questioned whether the framework grants Iran extensive economic benefits without guaranteeing the elimination of its nuclear capabilities.
Trump has stated that sanctions relief would remain conditional on Iranian compliance. He has also warned that military operations could resume if Tehran violates the agreement or fails to implement its commitments.
European Commission President Ursula von der Leyen has taken a similar position, indicating that the European Union would evaluate any easing of its own sanctions only after observing measurable and verifiable changes. European participation could prove essential because several restrictions affecting Iran involve banking, trade and investment channels outside US jurisdiction.
The agreement would also require Washington and Tehran to refrain from interfering in each other’s domestic affairs. That provision could be interpreted as an American commitment to abandon any formal policy of regime change, which would represent a significant political concession to the Iranian government.
An implementation mechanism would be established to monitor compliance, evaluate progress and resolve disputes. The parties would then have approximately 60 days to negotiate the remaining nuclear, economic, political and security provisions, although the deadline could be extended by mutual agreement.
The final accord would reportedly be submitted to the United Nations Security Council for approval through a legally binding resolution. Iran considers international endorsement essential because it could provide greater protection against the possibility of a future American administration withdrawing unilaterally from the settlement.
A signing ceremony is reportedly being considered in Lucerne, Switzerland, with US Vice President JD Vance expected to represent Washington. Nevertheless, the text remains a draft and could undergo substantial revisions before any formal announcement.
The proposed framework offers Iran sanctions relief, access to frozen assets and a vast reconstruction programme in exchange for a permanent renunciation of nuclear weapons, the restoration of maritime security and an end to regional hostilities. Its success will depend on verification, enforcement and the willingness of all parties and their allies to respect the commitments included in the final document.
Peace is measured by the commitments that endure.