The US and Iran have reached a preliminary interim agreement after weeks of intensive diplomacy, producing a 14-point Memorandum of Understanding that delivers a 60-day ceasefire and reopens the Strait of Hormuz to commercial shipping. The catch: virtually every hard question, from nuclear enrichment limits to ballistic missiles, has been punted to future negotiations.
The MOU was virtually signed by President Donald Trump, Vice President JD Vance, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf around June 15, with a formal signing ceremony scheduled for June 19 in Switzerland.
What the deal actually covers
The US naval blockade of Iranian ports will be terminated, and the Strait of Hormuz will reopen to commercial traffic. On the economic side, Iran gains access to oil revenues and enters discussions regarding the release of more than $25 billion worth of frozen assets. No major nuclear concessions are included in this phase. Iran’s uranium enrichment levels remain unaddressed. Ballistic missiles and Iran’s broader missile program are explicitly excluded from the MOU. The administration is describing this as a “major win” built around phased measures for Iran’s compliance.
Three months of conflict as backdrop
