Details are emerging from the memorandum of understanding, signed by the US and Iran this week, which reportedly extends the ceasefire to Israel and Hezbollah, reopens the Strait of Hormuz, and provides various forms of relief for Iran.

Trump on Monday denied reports that the US will pay $300 million to Iran, and reaffirmed that Iran will “never have a nuclear weapon.”

The memorandum of understanding will cease hostilities for 60 days as negotiations on Iran’s nuclear program continue, with relief from sanctions and frozen assets being contingent on Iranian nuclear concessions. The deal has been described by US officials as “performance-based” and a “pay for performance deal” with Iranian funds remaining frozen until Iran fulfills its commitments.

Per Axios, “U.S. officials say they will not withdraw the forces sent to the region unless there is a nuclear deal.”

Trump told reporters earlier he expects the next stage of negotiations to “go pretty quickly,” confirming that the deal outlines a 60-day ceasefire to continue talks. “I think they’re going to want to get it done. Iran wants to get it done; they have to get back to business, and the relationship is now normalized, so I think it’s going to go pretty quickly. Could go faster, could take longer too, but it could go fast,” he said.

“In addition to that, the Strait is going to be open toll-free, and it’s toll-free beyond the 60 days,” noting that he will release the full text and hold a press conference to read it “word-by-word, so that the press covers it accurately.”

WATCH:

Per the New York Post, the deal would include the following 12 points, first reported by Axios’s Barak Ravid:

• • Iran, the US and their allies would stop fighting across the region — including in Lebanon.

• • Tehran would reaffirm its pledge never to build a nuclear weapon.

• • The US and Iran would work out what happens to Tehran’s enriched uranium stockpile.

• • Both sides would open talks on Iran’s future enrichment activities and nuclear needs.

• • Iran would maintain the “status quo” of its nuclear program — which has been largely decimated — while negotiations continue.

• • The US would lift its naval blockade, hold off on new sanctions and refrain from sending more troops to the region.

• • Iran would guarantee safe, toll-free passage for commercial ships through the Strait of Hormuz for 60 days.

• • Washington would release an unspecified amount of frozen Iranian assets once the MOU takes effect.

• • A final deal reached after the 60 days would see the US withdraw its forces within 30 days and lift all sanctions on Iran.

• • It would pave the way for a $300 billion reconstruction fund for Iran.

• • The US would allow Iran to resume oil sales through temporary sanctions waivers.

• • Iran, Oman and Gulf states would negotiate new shipping and maritime security arrangements for the Gulf.

The Gateway Pundit will provide updates as more information on the deal is made available.

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