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US‑Iran MoU Reopens Hormuz, Lifts Sanctions and Sets 60‑Day Nuclear Talks
The United States and Iran signed a 14‑point Memorandum of Understanding, digitally executed by President Donald Trump and Iranian President Masoud Pezeshkian. The agreement declares an immediate and permanent cessation of hostilities on all fronts, including Lebanon, and commits both sides to refrain from future military actions.
Key provisions include the reopening of the Strait of Hormuz, with the United States beginning to lift its naval blockade within 30 days and Iran facilitating toll‑free commercial shipping for 60 days. The United States will also issue waivers for Iranian oil exports and work with regional partners on a reconstruction and economic development package of at least $300 billion. All U.S. sanctions, including UN and secondary measures, are to be terminated on a schedule to be negotiated.
The MoU calls for a maximum 60‑day period, extendable by mutual consent, to negotiate a final agreement on Iran’s nuclear programme, including the down‑blending of highly‑enriched uranium under IAEA supervision. President Trump warned that non‑compliance could trigger a resumption of bombing. Oil prices fell sharply after the announcement, reflecting reduced war‑risk premiums.
The deal was read aloud to journalists by senior U.S. officials, and a formal signing ceremony is planned in Geneva. Pakistan’s Prime Minister Shehbaz Sharif, a mediating party, confirmed the deal’s immediate effect.