Trump set to lift all sanctions on Iran? 5 things to know about surprising Obama-style peace proposal, ‘If they don’t…'

A potential peace deal between Donald Trump and Iran could lift US sanctions and release frozen assets.

Donald Trump is on the brink of achieving a comprehensive peace agreement with Iran that would eliminate US sanctions, release billions in frozen assets, and pave the way for uranium enrichment, resembling the pact established by Barack Obama that he has criticized for years, as per a new report.

Donald Trump said presuming Iran would agree to give what has been agreed to is perhaps a "big assumption". (Reuters)

A 14-point memorandum of understanding (MoU) is currently under negotiation between senior Iranian officials and Trump's representatives, Steve Witkoff and Jared Kushner. The White House is optimistic that this memo could establish a framework to conclude the conflict within 48 hours, Daily Mail reported.

If the deal is signed, a 30-day period would commence for both nations to negotiate a broader accord that would address the reopening of the Strait of Hormuz, the removal of all US sanctions on Iran, and new restrictions on its nuclear program.

Following the announcement of the proposed agreement, oil prices experienced a significant decline, with Brent crude, the global benchmark, dropping by over 10 percent to below $100 per barrel. In contrast, stock futures associated with the Dow increased by 1.1 percent, S&P 500 futures rose by 0.9 percent, and Nasdaq futures advanced by 1.6 percent.

What we know about Trump's Obama-style peace proposal to Iran: 5 things to know

1. The agreement stipulates that Iran must cease all uranium enrichment activities for a period of 12 to 15 years, with automatic extensions in the event that Tehran breaches the terms, as reported by Axios.
2. Another significant aspect of the agreement requires the regime to eliminate its stockpile of highly enriched uranium from the nation, although the document does not indicate where it will be sent.
3. Trump has made considerable efforts to steer clear of any arrangement that resembles the 2015 Obama agreement, which he has criticized for years as the “worst deal ever.” However, the new framework bears notable similarities: sanctions are to be lifted, previously frozen billions are to be released, and Iran's enrichment is to be limited to the same 3.67 percent level that was established by Obama, as per Daily Mail's report.
4. The memorandum additionally mandates that Iran must pledge to refrain from pursuing a nuclear weapon or engaging in weapons testing activities, commitments that the regime has previously accepted. Diplomats are currently deliberating on an extra clause that would prohibit Iran from operating underground nuclear facilities.
5. The most recent proposal from Trump does not seem to impose any restrictions on Iran's ballistic missile program. But the regime would agree to enhanced nuclear inspections, which would include immediate assessments by UN experts and investigators.

According to US officials, the removal of sanctions placed on Iran and the unfreezing of billions in Iranian assets worldwide would occur gradually.

Here's what Trump said on Truth Social

As information regarding Trump's most recent proposal to Iran became available, the President took to Truth Social to encourage his followers to advocate for peace with the regime.

“Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran,” Trump wrote.

“If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before.”

However, Trump informed The New York Post later on Wednesday that it remains "too soon" to consider initiating another series of in-person peace negotiations with Iran.

Additionally, Trump conveyed to PBS News that the conflict has a "very good chance of ending," but he cautioned, “if it doesn’t end, we have to go back to bombing the hell out of them.”

During an event on Wednesday commemorating Mother’s Day with military families, Trump told reporters that Iran is eager to reach a settlement to conclude the conflict.

“We’re dealing with people that want to make a deal very much, and we’ll see whether or not they can make a deal that’s satisfactory to us,” he said.

Esmaeil Baqaei, spokesperson for the Iranian Foreign Ministry, informed news agencies on Wednesday that Tehran is still evaluating the proposal and will provide its feedback to mediators in Pakistan, as per CNBC.