Read the 14 points of the agreement between Iran and the US

Key points of the deal include

Both sides agreed to "the immediate and permanent end to military operations on all fronts, including in Lebanon."

Iran can begin exporting oil as soon as the MOU is signed.

Iran "will make arrangements using its best efforts for the safe passage of commercial vessels with no charge for 60 days only from the Persian Gulf to the Sea of Oman and vice versa."

The U.S. and regional partners will develop a reconstruction plan for Iran worth at least $300 billion.

Iran affirms that it "shall not procure or develop nuclear weapons."

The two sides "have agreed to resolve the disposition of stockpiled enriched material."

U.S. sanctions on Iran will be lifted on schedule as a part of a final deal, linked to nuclear compliance.

There will be 60 days to sign a final agreement, which the two sides can agree to extend.

More on this in tomorrow's video.