Iranian news agency Mehr has reported details of a proposed peace agreement with the United States, citing a source familiar with Tehran’s side of the negotiations.

The draft contains 14 points. One of its central provisions calls for an immediate and complete halt to hostilities on all fronts, including Lebanon.

The document also outlines a set of obligations for Washington. Under the proposal, the United States would refrain from interfering in Iran’s internal affairs, respect the country’s sovereignty, fully lift the naval blockade within 30 days and withdraw its forces from areas near Iran.

Within the same 30-day period, the Strait of Hormuz would be reopened. Passage through the waterway, however, would have to follow Iranian rules.

A separate section of the draft focuses on economic restrictions. It provides for the removal of sanctions on Iranian oil and petroleum products, as well as the restoration of Tehran’s access to financial resources.

Mehr also reported that the United States and its allies would be expected to prepare a recovery program for Iran. The minimum value of that program is estimated at $300 billion.

Once the peace process begins, the sides would have 60 days to negotiate a final agreement. During that period, they are expected to discuss the nuclear issue, the full removal of US sanctions, and the lifting of some resolutions adopted by the UN Security Council and the IAEA Board of Governors.

While those talks are underway, Washington would not be allowed under the draft to increase its military presence in the region or introduce new restrictions.

Fars, another Iranian news agency, reported that Tehran had reaffirmed its commitment under the Treaty on the Non-Proliferation of Nuclear Weapons not to develop nuclear arms. According to Fars, once the peace process starts, the United States would unblock $12 billion in Iranian assets, half of the total amount expected to be released.

The final agreement, the agency said, would be formalized through a UN Security Council resolution. The sides also plan to create a separate monitoring mechanism to track its implementation.