A senior US official publicly outlined the details of a 14-point Memorandum of Understanding with Iran on June 17, 2026, laying the groundwork for what could become the most significant diplomatic breakthrough in the Middle East in over a decade.
The interim framework covers everything from an immediate ceasefire to the reopening of the Strait of Hormuz, the narrow waterway through which roughly a fifth of the world’s oil supply passes. A formal signing is scheduled for June 19 in Switzerland.
What’s actually in the deal
Among the headline provisions: $300 billion in reconstruction assistance, which includes the return of frozen Iranian assets.
Iran, for its part, commits to halting nuclear weapon development and freezing enrichment activities. The agreement is explicitly described as non-binding, which means neither side is legally locked in.
