United States President Donald Trump and Iranian President Masoud Pezeshkian on Wednesday signed an interim memorandum of understanding aimed at ending the conflict in West Asia, the White House said.The agreement envisages a 60-day negotiating period during which the parties will seek a permanent settlement, Al Jazeera reported.Trump signed the agreement shortly before a dinner with French President Emmanuel Macron at the Palace of Versailles, where the Treaty of Versailles, which formally ended the First World War, was signed in 1919.🚨 President Donald J. Trump has SIGNED the Iran Memorandum of Understanding at Versailles in France. 🇺🇸 pic.twitter.com/JQ6qlbvFAF— The White House (@WhiteHouse) June 17, 2026
“As a first step, Islamic Republic of Iran will instantly reopen the Strait of Hormuz and the United States of America will immediately lift the naval blockade,” Pakistani Prime Minister Shehbaz Sharif said on social media.Pakistan is among the countries that mediated towards an end to the conflict.The US will also waive oil-related sanctions on Tehran and work towards broader economic relief measures, AFP reported.The memorandum also outlines plans for a proposed $300 billion reconstruction fund for Iran, supported by “regional partners”, subject to a final agreement being reached within 60 days, Al Jazeera reported.The agreement had initially been due to be signed by Iran’s chief negotiator and parliament speaker, Mohammad Bagher Ghalibaf, and US Vice President JD Vance, AFP reported. However, Iranian officials later said an in-person signing ceremony was no longer necessary after the memorandum was signed electronically by the two presidents.President Pezeshkian and his US counterpart Trump signed the MoU between Tehran and Washington digitally and remotely. pic.twitter.com/ratIJxoeLG— Iran in India (@Iran_in_India) June 18, 2026
