President Donald Trump signed a 14-point memorandum of understanding with Iranian President Masoud Pezeshkian on June 18, activating a 60-day negotiation window. The deal was facilitated by Pakistani Prime Minister Shehbaz Sharif and signed electronically, capping a conflict period that stretched beyond 100 days.
The headline provisions are substantial: an immediate ceasefire, unconditional lifting of the US naval blockade on Iranian ports, and the reopening of the Strait of Hormuz without tolls for maritime traffic. The Strait of Hormuz handles roughly 20% of the world’s oil supply.
What’s in the deal
The first round of implementation talks is expected to take place in Switzerland shortly after the signing.
Sanctions relief sits at the center of the arrangement. Iran gains access to previously frozen assets only if it complies with commitments to curb its nuclear activities.
