President Donald Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding on Wednesday to end the war. The interim agreement, which took effect following a G7 summit in France, immediately led the U.S. to lift its blockade of Iran's ports and coastal areas. As a result, oil tankers have begun moving freely through the Strait of Hormuz. The deal was witnessed by Trump and had been signed digitally on Sunday by Vice President JD Vance and Iran's chief negotiator Mohammad Bagher Ghalibaf.
The 14-point framework establishes a 60-day ceasefire to allow both nations to negotiate a lasting agreement. Under the terms, Iran will take steps to dilute its stockpile of highly enriched uranium. In exchange, the U.S. is waiving sanctions to allow Iran to sell its oil without restrictions and is expected to unfreeze assets linked to the regime. The agreement also includes provisions for an end to the war in Lebanon and a proposed $300 billion reconstruction fund for Iran, although President Trump denied that the U.S. would be part of that fund.
G7 leaders described the preliminary agreement as a breakthrough secured under Trump's leadership. However, the president cautioned that the deal is not final. During a press conference, Trump threatened to resume bombing campaigns if Iran fails to comply with the terms or if the final agreement is unsatisfactory. While Trump suggested Iran should be able to enrich uranium and develop ballistic missiles, Iran's Supreme Leader Ayatollah Khamenei stated that future face-to-face negotiations would not mean accepting the enemy's point of view.