Washington and Tehran have signed a memorandum of understanding aimed at de-escalating regional tensions and initiating a new phase of negotiations for a comprehensive final agreement within 60 days. The accord, signed remotely by U.S. President Donald Trump and Iranian President Masoud Pezeshkian, seeks to end the ongoing conflict in the Middle East.
The memorandum stipulates an immediate and permanent cessation of military operations across all fronts, including the Lebanese arena. Both parties commit to refraining from the use or threat of force in the future and to respecting the sovereignty and territorial integrity of nations.
Under the terms of the agreement, the United States will commence the immediate and complete removal of the naval blockade imposed on Iran within 30 days. Furthermore, U.S. forces are to be withdrawn from the vicinity of Iran within 30 days following the conclusion of a final agreement. In return, Tehran pledges to ensure the safe passage of commercial vessels through the Strait of Hormuz and the Arabian Gulf without tariffs for a period of 60 days, with navigation gradually resuming after the removal of technical and military impediments.
The understanding also includes a U.S. commitment to collaborate with regional partners on a plan for the reconstruction and development of the Iranian economy, valued at no less than $300 billion. Necessary licenses and exemptions for financial transactions related to this plan will be granted.
Regarding the nuclear file, Iran has reaffirmed its commitment not to pursue the acquisition or development of nuclear weapons. The two sides have agreed to address the issue of stored enriched materials through a mutually agreed-upon mechanism, which will include the reduction of uranium enrichment levels under the supervision of the International Atomic Energy Agency.
The memorandum further outlines the initiation of procedures to lift sanctions imposed on Iran, according to a timeline to be established during upcoming negotiations. Immediate waivers will be issued to permit the export of Iranian oil, petroleum products, and associated services, including banking, insurance, and transportation sectors.
Washington has also pledged to make frozen Iranian funds and assets fully accessible for use upon the memorandum's implementation, with a joint mechanism to be agreed upon for their release during the negotiation phase. A joint implementation mechanism will be established to monitor adherence to the agreement's provisions and oversee the execution of the anticipated final accord, which will subsequently require binding approval from the United Nations Security Council.
In initial reactions, Pakistani Prime Minister Shehbaz Sharif announced that the agreement signifies the immediate reopening of the Strait of Hormuz and the termination of the U.S. naval blockade on Iranian ports. He confirmed that a ceremony will be held in Switzerland on Friday to celebrate the agreement and commence technical discussions for its implementation.
The Axios news outlet reported that the memorandum of understanding entered into force following its electronic signature by the U.S. and Iranian presidents. Iranian Foreign Ministry spokesperson Esmaeil Baghaei confirmed that negotiations on the implementation mechanism have begun immediately, emphasizing the necessity of lifting oil sanctions and enabling Iran to resume its oil exports within the 60-day period stipulated in the agreement.
