The US and Iran just did something that would have seemed unthinkable a few months ago. President Trump, Vice President Vance, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf electronically signed a Memorandum of Understanding on June 15, setting the stage for a dramatic de-escalation between two nations that have spent decades perfecting the art of mutual hostility.
Trump expects the deal to be signed quickly and completed within 60 days. A formal signing ceremony is scheduled for June 20, and the full text of the MoU is expected to be made public before that date.
What’s actually in the deal
The headline provisions are substantial. The MoU calls for lifting the US naval blockade on Iranian ports and reopening the Strait of Hormuz for shipping under toll-free conditions. For context, the Strait of Hormuz is the narrow waterway through which roughly a fifth of the world’s oil supply passes on any given day.
Beyond the immediate logistical concessions, the agreement establishes a 60-day negotiation window focused specifically on curbing Iran’s nuclear program.
