United States and Iran Sign Cease‑fire Memorandum, Lifting of Sea Blockade

U.S. President Donald Trump and Iranian President Masoud Pezeshkian signed a 14‑point Islamabad Memorandum of Understanding that immediately enacts a permanent cease‑fire on all war fronts, including Lebanon, and reopens the Strait of Hormuz for free passage for at least 60 days. The United States has lifted its maritime blockade of Iran and pledged a phased relief of sanctions, the unfreezing of Iranian assets, and a U.S.‑led reconstruction fund of roughly $300 billion, though no direct U.S. cash is committed. Iran agreed not to pursue nuclear weapons and to allow inspections, while both sides will resume negotiations in Switzerland within 60 days on a final nuclear agreement. Pakistan Prime Minister Shehbaz Sharif acted as mediator and also signed the memorandum. International reactions varied: the G7 praised the deal as a historic opportunity, U.S. Senate leaders expressed mixed views, Israel rejected any binding effect, and Iran’s Supreme Leader called the U.S. move “desperate.” The agreement is seen as a diplomatic breakthrough that could ease regional tensions and stabilize oil markets.