US‑Iran Memorandum Signed by Trump Opens Hormuz and Launches 60‑Day Peace Framework

President Donald Trump signed a 14‑point Memorandum of Understanding with Iran at a ceremony in the Versailles Palace, witnessed by French President Emmanuel Macron. The agreement calls for an immediate and permanent cease‑fire on all fronts, including Lebanon, and pledges that the United States will lift its naval blockade of Iran and end all sanctions within 60 days. Commercial shipping through the Strait of Hormuz will be reopened for free navigation for the same period, after which Iran and Oman will work on a joint management mechanism. Iran commits to cease enrichment of highly‑enriched uranium under IAEA monitoring, while the United States will withdraw its forces from the region. The memorandum also establishes a private reconstruction fund of at least $300 billion, more than half of which has already been pledged by investors from the United States, Gulf states, Asia, South America and Africa. The deal will be formalised in Switzerland and will trigger a two‑month negotiation window to resolve the remaining nuclear and economic issues. G7 leaders endorsed the agreement, linking it to broader commitments on Ukraine and sanctions on Russia.