The United States and Iran have signed a Memorandum of Understanding (MoU) to extend a ceasefire and reopen the pivotal Strait of Hormuz, confirmed by a White House official. President Donald Trump signed the 14-point agreement at the G7 summit in France, with Iranian President Masoud Pezeshkian also signing.
This "performance-based" deal, coming four months after conflict erupted, commits Iran to never possessing a nuclear weapon and establishes a $300 billion fund for its reconstruction, though the US is not required to contribute. The agreement mandates an immediate, permanent termination of military operations on "all fronts," including Lebanon, and requires the US to end its naval blockade and remove forces from Iran's proximity within 30 days. Iran will ensure safe, charge-free passage through the Strait of Hormuz. Both nations commit to negotiating a final deal within 60 days, with the US terminating all economic sanctions and releasing frozen funds. Enriched uranium will be downblended under IAEA supervision, and a final deal will be endorsed by a binding UN Security Council resolution.
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