Secretary of State Marco Rubio and special envoy Steve Witkoff are scheduled to brief Congress by phone on Monday regarding the US-Iran agreement, a diplomatic development that could ripple well beyond the Middle East and into global energy and financial markets.
The briefing comes on the heels of a memorandum of understanding reached on June 14, 2026, between the US and Iran. That 14-point MOU covers an immediate end to military operations, the reopening of the Strait of Hormuz, and a 60-day window for further negotiations on sanctions relief and nuclear issues.
What the MOU actually says
The Strait of Hormuz is the narrow waterway through which roughly a fifth of the world’s oil supply passes daily. The MOU’s commitment to reopen that chokepoint is, by itself, a significant geopolitical concession.
The 60-day negotiation framework is designed to address the thornier topics: sanctions relief for Iran and the perennial question of its nuclear program.
