The United States and Iran have finalized a 14-point memorandum of understanding that extends their ceasefire for 60 days, reopens the Strait of Hormuz, and grants temporary sanctions waivers allowing Iran to sell oil. The formal signing is scheduled for June 19, 2026, in Switzerland.
What the deal actually says
The MOU is a 14-article framework covering ceasefire terms, oil sales, sanctions status, and Iran’s nuclear program. It builds on a prior ceasefire brokered by Pakistan in April 2026 during the broader Iran conflict.
The Strait of Hormuz will reopen immediately without tolls following the signing. The US naval blockade on Iranian ports gets lifted as part of the arrangement.
Iran receives temporary US sanctions waivers to export oil for up to 60 days. In exchange, Iran commits to not pursuing nuclear weapons during this period. Both sides describe it as a preliminary framework, essentially a stepping stone toward more comprehensive nuclear negotiations.
