U.S. and Iran sign general memorandum to end conflict and reopen Strait of Hormuz
The United States and Iran have signed a one-and-a-half-page memorandum of understanding that outlines a framework to end the current conflict. The document calls for reopening the Strait of Hormuz, releasing frozen Iranian assets in stages, and returning nuclear inspectors, with detailed terms to be negotiated over the next 60 days.
The United States and Iran have signed a memorandum of understanding described by U.S. officials as a one-and-a-half-page general document that sets a framework to end the current conflict. The agreement calls for reopening the Strait of Hormuz, lifting the U.S. naval blockade, and releasing an estimated $24 billion in frozen Iranian assets in four installments over a 60-day negotiation period.
Releases are conditioned on Iran allowing the strait to reopen and reaching understandings on nuclear issues.
Asset release and nuclear provisions Iranian state media reported that $12 billion would be released before negotiations begin. A Pakistani source said some funds could be transferred under the label of economic assistance for mine-clearing operations.
U.S. Vice President JD Vance said on CNN that the memorandum does not immediately unfreeze billions in assets. He stated the larger element is the potential unsanctioning of Iran’s economy if long-term nuclear commitments are made. Vance also said nuclear inspectors from the International Atomic Energy Agency and the United States would return to Iran to help destroy its highly enriched uranium stockpile.
Reactions and next steps Senate Majority Leader John Thune said he did not yet have enough information about the agreement. Some other Republican lawmakers have requested additional details from the White House. A signing ceremony is scheduled for Friday in Geneva.
U.S. officials said President Trump is unlikely to attend. Israeli Prime Minister Benjamin Netanyahu stated that Israeli forces will remain in Gaza, Lebanon, and Syria for as long as necessary. Hezbollah welcomed the memorandum and said it had produced a comprehensive ceasefire across all fronts, while warning against any violations of Lebanese sovereignty.
