Iran Sanctions Update — Draft MoU Would Put Missiles, Proxies Outside Nuclear Talks

Iranian state-affiliated Mehr News published what it described as a 14-point draft U.S.-Iran memorandum of understanding that would pair a permanent ceasefire with staged sanctions relief, reopening of the Strait of Hormuz and a 60-day negotiating period on a final nuclear agreement.

The reported terms have not been independently verified, and neither U.S. nor Iranian officials have publicly confirmed the full text. But the Mehr version, as reported by Iran International, would require an immediate end to military operations across all fronts, including Lebanon; removal of the U.S. naval blockade within 30 days; reopening of the Strait of Hormuz under Iranian arrangements; and release of $24 billion in frozen Iranian assets during the talks. 

[A version of the document obtained by Reuters  cites similar terms.]

The most consequential sanctions point is the scope of the follow-on talks. According to the Mehr account, negotiations would be limited to enriched uranium, enrichment activity, sanctions relief and reconstruction. Iran’s missile program and support for allied armed groups would be expressly excluded from the agenda. 

That framing conflicts with the U.S. description of the emerging deal. A senior U.S. official told Reuters the arrangement would be “performance-based,” with benefits tied to Iran’s commitments not to develop a nuclear weapon, to neutralize enriched material and not to interfere with navigation in the Strait of Hormuz. The official said sanctions waivers for Iranian oil sales, including related banking, transport and insurance services, would take effect once the agreement is signed. 

The Mehr version would give Iran early economic relief while narrowing the next phase to nuclear and sanctions issues, leaving missiles and regional proxies outside the bargain.

That would mark a sharp departure from the broader U.S. sanctions posture toward Iran, which has long linked petroleum, financial and secondary sanctions pressure to Tehran’s nuclear program, missile development and support for militant groups.

The White House has posted video notices saying saying the President has  signed an Iran memorandum of understanding, but as of presstime,  no operative OFAC general license, Treasury sanctions-relief notice, State Department waiver notice, executive order or published legal instrument has been published implementing the sanctions relief reportedly contemplated by the deal.

Existing Iran sanctions guidance and recent OFAC/State actions remain enforcement-oriented rather than relief-oriented.

For compliance officers, the immediate issue is not whether sanctions relief has been politically announced, but whether OFAC, the State Department or the U.N. has issued operative licenses, waivers or delisting instructions. Until then, existing Iran restrictions remain the controlling legal framework.

Update 6/19 no substantive statements, Reuters corroboration.