The US and Iran have signed a Memorandum of Understanding that ties sanctions relief directly to Iranian behavior. Vice President JD Vance, who digitally signed the 14-point MOU on June 15, 2026, alongside Iranian parliament speaker Mohammad Bagher Qalibaf, described the framework as adjustable. President Trump added a hard copy signature on June 17. The agreement opens a 60-day window for final negotiations, during which Iran’s actions will determine how much relief it actually receives.
What the deal actually says
The MOU is structured around a simple premise: Iran reduces its enriched uranium stockpile and pulls back from regional radicalism, and in return, Washington eases sanctions on oil exports and unlocks access to frozen assets. The agreement also includes provisions for restoring commercial shipping through the Strait of Hormuz, which had been disrupted following US and Israeli strikes in February 2026.
A proposed $300 billion reconstruction plan sits at the end of the rainbow, but it’s contingent on reaching a final agreement after the 60-day negotiation period.
Vance was emphatic on one point: no direct US funding or upfront cash transfers to Iran. The framework instead relies on easing restrictions that allow Iran to re-enter certain commercial channels.
