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US to Suspend Iran Oil Sanctions: Reports

© AP Photo / Iranian Presidency OfficeThis photo released by official website of the office of the Iranian Presidency shows a part of Pardis petrochemical complex facilities in Assalouyeh on the northern coast of the Persian Gulf, Iran, Tuesday, Sept. 4, 2018.
This photo released by official website of the office of the Iranian Presidency shows a part of Pardis petrochemical complex facilities in Assalouyeh on the northern coast of the Persian Gulf, Iran, Tuesday, Sept. 4, 2018.  - Sputnik India, 1920, 15.06.2026
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The United States has committed to suspending sanctions on Iranian oil and petroleum product exports, not imposing new sanctions against Tehran, and not building up its military forces in the Middle East, the Iranian news agency Mehr reported citing a draft memorandum of understanding between the two countries.
"Sanctions on the sale of oil, petrochemical products, and petrochemical derivatives must be suspended," Mehr quotes the draft memorandum. "The US commits not to build up its forces in the Middle East region and not to impose new sanctions against Iran."
The United States and its allies must provide Iran with a project to restore the Islamic Republic's economy worth at least $300 billion, the agency added.
Separate preparatory meetings with representatives of Iran and the United States will be held in the Qatari capital of Doha, CNN in turn reported citing a diplomatic source.
Preparatory meetings with each side will be held in Doha this week ahead of the official signing of the agreement in Switzerland this Friday and the start of technical negotiations, the channel reported citing a diplomatic source familiar with the situation.
According to CNN, the Qatari mediators have already left Tehran after 17 hours of intensive negotiations.
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