Bloomberg Leaks US-Iran Memorandum: Tehran Gets Immediate Oil Trade Rights

Bloomberg and Al Arabiya released an "almost final" draft of a US-Iran mutual understanding memorandum to be signed in Switzerland on 19 June 2026. The document provides for an immediate ceasefire on all fronts, a $300 billion reconstruction investment fund for Iran, and immediate permission for Iran to export oil. Iran's renunciation of nuclear weapons will be confirmed in the final agreement.

Bloomberg and Saudi Arabian broadcaster Al Arabiya released on Tuesday, 17 June 2026, an "almost final" draft of a US-Iran mutual understanding memorandum, which is to be signed in Switzerland on 19 June. The parties reached basic agreement on 14 June, but the White House's promise to disclose the terms within 48 hours has not been fulfilled.

Immediate Ceasefire and Sanctions Relief

According to the 14-point memorandum, the US, Iran and their allies will immediately cease military operations on all fronts, including in Lebanon. The US commits to immediately removing the naval blockade of Iranian ports and restoring shipping to pre-war levels within 30 days. Simultaneously, the US Treasury Department will immediately authorise exports of Iranian crude oil, petrochemical products and related services, including banking, insurance and transport services.

Iran, for its part, commits to ensuring safe passage of merchant ships through the Strait of Hormuz within 30 days, accounting for time needed for mine clearance. The US will also gradually unfreeze Iranian assets as negotiations progress.

$300 Billion in Investment

One of the key points of the memorandum is an Iran reconstruction plan worth at least $300 billion. Initially, Iran demanded $400 billion in compensation for war damage, but the US rejected this and instead offered a private-sector investment fund without state funding.

According to Reuters, more than half of the fund is already covered by mandatory contributions from US, Persian Gulf, Asian, Latin American and African companies. The promised funds will be directed towards energy, logistics, manufacturing and transport development. However, the fund will only begin operations after the final agreement is signed.

Nuclear Issue and Oversight

The provision on Iran's renunciation of nuclear weapons confirms Tehran's earlier position: Iran will never acquire nuclear weapons. The fate of enriched nuclear material and other nuclear issues will be resolved in the final agreement. Until the final agreement, the status quo remains in place, with Iran not expanding its nuclear programme, the US not imposing new sanctions or increasing military presence in the region.

Bloomberg notes that the technical details of the leaked document are still being worked on, and wording may change. The final agreement must be confirmed by a binding UN Security Council resolution. The negotiation deadline is 60 days with the possibility of extension by mutual agreement.

Israel's Response

In parallel, there are reports of Benjamin Netanyahu's mixed response: publicly, he claims that "Israel was saved from destruction," but behind the scenes, officials assess the situation critically. Israel has not formally joined the ceasefire.