US officials reveal details of Iran agreement after days of secrecy

US President Donald Trump with Secretary of State Marco Rubio during a press conference at the G7 summit. Picture: Vadim Ghirda/AP

Senior US officials dictated the memorandum of understanding with Iran to journalists on Wednesday after days of secrecy.

The officials spoke on condition of anonymity to read the the draft, which Iran has not released, ahead of formal signing ceremony set for Friday.

According to the officials, the draft agreement includes a new “minimum” standard for downblending of highly enriched Iranian uranium and has provisions to ensure the “territorial integrity” of Lebanon after Israel’s latest attacks against Hezbollah in Lebanese territory.

In return, the US will move to waive, but not eliminate, some wide-ranging sanctions against Iran once the deal is signed.

The US draft of the agreement also secures toll-free passage of the Strait of Hormuz for only 60 days, and it does not preclude fees in future, the officials said.