U.S. and Iran reach 14-point agreement establishing 60-day cease-fire framework

The U.S. and Iran have agreed to a 14-point framework for a 60-day cease-fire to negotiate a final peace deal. The agreement calls for reopening the Strait of Hormuz, lifting U.S. sanctions, and a $300B reconstruction fund for Iran, though President Trump denies any U.S. contribution. Iran reaffirms it will not develop nuclear weapons. Trump warns that if a final deal fails, the U.S. will "go back to bombing."

U.S.-Iran cease-fire agreement

• ▪The agreement calls for an immediate termination of military operations on all fronts, including in Lebanon.
• ▪President Donald Trump stated that if a final deal is not reached in 60 days, the U.S. will "go back to bombing."
• ▪President Trump said the war with Iran became very expensive, costing $200 million in bombs over a recent 48-hour period.
• ▪The U.S. and Iran have reached a 14-point memorandum of understanding establishing a 60-day cease-fire framework for negotiating a final deal.
• ▪G7 world leaders issued a statement on June 17, 2026, welcoming the agreement between the U.S. and Iran.

Nuclear weapons prohibition

• ▪The minimum method for handling the enriched material will be "down blending on site" under the supervision of the International Atomic Energy Agency (IAEA).
• ▪The agreement states that Iran reaffirms it will not procure or develop nuclear weapons.
• ▪The U.S. and Iran will agree on a mechanism to resolve the disposition of Iran's stockpile of enriched material.

Sanctions termination timeline

• ▪The U.S. has committed to terminating all sanctions against Iran on an agreed-upon schedule as part of the final deal.
• ▪The U.S. has agreed to make Iran's frozen or restricted funds and assets fully available for use.
• ▪Upon signing the MOU, the U.S. Treasury will issue waivers for the export of Iranian crude oil and petroleum products.

Strait of Hormuz reopening

• ▪Iran will use its "best efforts" to ensure the safe passage of commercial vessels at no charge for 60 days.
• ▪The agreement requires the full reopening of the Strait of Hormuz, with the U.S. ending its naval blockade within 30 days.
• ▪Prior to the recent war, the Strait of Hormuz was the transit route for about 20% of the world's oil supply.

Iran reconstruction financing

• ▪The agreement outlines a plan for at least $300 billion from the U.S. and regional partners for Iran's reconstruction and economic development.
• ▪President Donald Trump publicly denied that the U.S. would contribute any money to the reconstruction fund, calling it a "false story."

Israel-Lebanon military campaign

• ▪Israeli Prime Minister Benjamin Netanyahu has vowed that Israeli soldiers will remain in southern Lebanon.
• ▪President Trump criticized Israel's campaign against Hezbollah and said he told Prime Minister Netanyahu to use a "softer touch."
• ▪Iran has demanded that any peace agreement must include Israel halting its military campaign in Lebanon and removing its troops.

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