Iran is set to receive broad financial incentives as part of its agreement with the U.S., including the right to sell oil immediately, tap a $300 billion development fund and get eventual access to its frozen assets, according to a final draft of the deal.
While the contours of the memorandum of understanding have been circulating for days, the latest document ¡ª a copy of which was seen by Bloomberg News on Wednesday ¡ª offers the most complete accounting yet of the economic boost Iran is set to receive for ending its chokehold on the Strait of Hormuz and reiterating its commitment never to seek a nuclear weapon.
The two sides agreed to the deal on Sunday and plan to formally sign it Friday in Switzerland, clearing the way for 60 days of talks intended to end the war for good and put strict new limits on Iran¡¯s nuclear program. Neither side has formally released the text but the U.S. has begun circulating it with allied nations at the Group of Seven (G7) summit in France, a person familiar with the matter said.
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