U.S. and Iran remotely sign memorandum of understanding to end war and reopen Strait of Hormuz

The U.S. and Iran remotely signed a memorandum of understanding to end their war, reopening the Strait of Hormuz immediately. The deal, signed by Presidents Trump and Pezeshkian, calls for an end to all hostilities, the lifting of U.S. sanctions, and a $300B reconstruction fund, though Trump denies U.S. contribution. The agreement faces criticism from Republicans like Sen. Bill Cassidy, who called it a "blunder."

U.S.-Iran memorandum of understanding

• ▪As part of the agreement, Iran reaffirmed that it will not procure or develop nuclear weapons
• ▪A follow-up meeting is expected on Friday in Switzerland to discuss Iran's nuclear program
• ▪The remote signing occurred ahead of a formal ceremony that was originally planned for Friday in Switzerland
• ▪The signatories of the MOU were U.S. President Donald Trump and Iranian President Masoud Pezeshkian
• ▪President Trump said that if a long-term deal is not reached in 60 days, the U.S. will "go back to bombing."
• ▪The U.S. and Iran remotely signed a memorandum of understanding (MOU) to end the war
• ▪Iran's Foreign Ministry stated the digital signing ensured direct involvement from the top leaders of both nations

Strait of Hormuz reopening

• ▪As part of the deal, the U.S. will end its naval blockade of the Strait of Hormuz
• ▪Iran has committed to ensuring the "safe passage of commercial vessels with no charge" through the Strait of Hormuz
• ▪The MOU includes the immediate reopening of the Strait of Hormuz, which carried 20% of the world's oil supply before the war

Iran sanctions relief

• ▪The agreement includes a provision for the U.S. to "terminate all types of sanctions" against Iran on an agreed schedule
• ▪President Trump stated the U.S. holds frozen Iranian assets and will "at some point" have to return them

Reconstruction funding commitments

• ▪The deal outlines a plan for at least $300 billion from the U.S. and regional partners for Iran's reconstruction
• ▪President Trump later denied the U.S. would contribute to the reconstruction fund, stating "We are not investing 10 cents."

Congressional criticism

• ▪Cassidy stated that before the war, Iran was being crushed by sanctions and 13 U.S. service members were still alive
• ▪Sen. Bill Cassidy (R-La.) called the agreement the "worst foreign policy blunder in decades."

Israel-Lebanon conflict provisions

• ▪The agreement calls for an end to hostilities on all fronts, including in Lebanon
• ▪U.S. forces in proximity to Iran are to be removed "within 30 days after the final deal."
• ▪President Trump said he advised Israeli Prime Minister Benjamin Netanyahu to take a "softer touch" in Lebanon