U.S. and Iran sign memorandum of understanding

The U.S. and Iran signed a memorandum of understanding last weekend aimed at ending their conflict. Officials gave differing accounts of when the text would be released and when the Strait of Hormuz would reopen. The White House said the agreement had been signed on Sunday by the vice president but then announced there would be another signing with a ceremony on Friday.

Officials offered conflicting messages on Monday about when the text of the memorandum would be released, with some saying within the next 24 to 48 hours and others saying not until Friday.

Signing and release details At one point, the president said he might read the text of the memorandum aloud during a news conference. Instead, U.S. officials read the text on a call with reporters. The president and Iranian President Masoud Pezeshkian then re-signed the agreement during a dinner at Versailles with French President Emmanuel Macron present.

It remains unclear whether there will be a signing ceremony or further talks. The lack of clarity over the proposed peace deal follows the U.S. and Israel launching attacks on Iran in February.

Implementation questions Both sides have continued to launch strikes even as leaders say a temporary ceasefire brokered in early April remains in place. The memorandum differs from what the president said he wanted out of a deal with Iran. The U.S. blockade of ships coming from or going to Iranian ports was lifted after the second signing, according to U.S. Central Command.

The military does not have any reports of Iranian attacks against commercial ships in the strait on Friday, a U.S. official said. It also remains unclear whether the U.S. has issued sanctions waivers to allow Iran to sell its oil, which is a provision in the memorandum.