The United States and Iran have signed a 14-point memorandum of understanding that ends more than 100 days of war, reopens the Strait of Hormuz, and starts a 60-day countdown to a comprehensive final deal, one of the most consequential diplomatic agreements in a generation, now formally endorsed by President Donald Trump at the G7 summit in France.
A Deal Over 100 Days in the Making
When American and Iranian officials exchanged digital signatures on Wednesday on a 14-point memorandum of understanding, they ended a war that began on February 28 and had sent global energy markets into convulsions, choked off Gulf shipping and brought two nuclear-threshold powers into direct military conflict for the first time in modern history.
President Trump endorsed the accord at the G7 summit in Evian-les-Bains, France, calling it the deal that averted “an economic catastrophe” and praising his envoys, Steve Witkoff and Jared Kushner, who had spent months negotiating with Iranian counterparts both directly and through intermediaries, including mediator Pakistan. Reuters, BBC and CNN all confirmed the White House’s characterization of the agreement as officially “in effect,” with a formal signing ceremony planned for June 19 in Switzerland.
Point by Point: What the Text Actually Says
The full text of the MOU, published by i24 News and confirmed by CBS News, Bloomberg, The New York Times, and Al Jazeera, runs to just under 800 words across 14 numbered articles. Below is what each article delivers — and what it deliberately leaves open.
Article 1 — Permanent Ceasefire
The United States, Iran and “their allies in the current war” declare “the immediate and permanent termination of military operations on all fronts, including in Lebanon,” committing to refrain from threats or use of force against each other and to respect Lebanon’s territorial sovereignty. Lebanon and Hezbollah are not themselves signatories, a gap that analysts say creates ambiguity about the accord’s enforceability on the Lebanese front.
Article 2 — Sovereignty and Non-Interference
Both nations will “respect each other’s sovereignty and territorial integrity” and refrain from “interfering in each other’s internal affairs” — language that in diplomatic terms covers everything from covert funding of opposition movements to cyber operations.
Article 3 — 60-Day Final-Deal Deadline
The two sides commit to negotiating “a final agreement within a maximum period of 60 days, extendable by mutual consent.” The New York Post calls this the most consequential clause, launching a compressed diplomatic clock under which negotiators must resolve nuclear enrichment caps, IAEA verification, militia conduct, the $300 billion governance structure and long-term Hormuz arrangements.
Article 4 — Naval Blockade Lifted Within 30 Days
The US “will commence the dismantling of its naval blockade” immediately upon signing and will complete removal within 30 days, restoring maritime traffic “to its full capacity” proportional to pre-war volumes. US forces will withdraw from the surrounding areas within 30 days of the final agreement being concluded.
Article 5 — Iran Reopens Hormuz, Toll-Free for 60 Days
Iran will take immediate steps to ensure safe passage for commercial vessels and restore pre-war traffic volumes within 30 days, including demining and removal of technical barriers. Crucially, the toll-free passage applies “for 60 days only,” leaving Iran’s long-term transit-fee policy, a potential revenue source, entirely unresolved until the final deal.
Article 6 — $300 Billion Reconstruction Fund
The US, “together with regional partners,” will “create a comprehensive plan for the rehabilitation and economic development of Iran, ensuring a minimum financing of $300 billion.” The BBC and Bloomberg are careful to note the US is not committing its own treasury to that figure; Washington’s role is architect and convenor of a financing coalition drawn from Gulf sovereign wealth funds, European investors, and multilateral development banks.
Article 7 — Full Sanctions Lifted on a Mutual Timeline
All forms of US sanctions — unilateral, UN Security Council-mandated, and IAEA-linked — will be lifted according to a timeline agreed in the final deal. The Telegraph notes this article effectively gives Tehran the full scope of what it has sought for a decade, making it the most significant concession Washington puts on paper.
Article 8 — Nuclear Weapons Pledge
Iran “reiterates that it will never produce nuclear weapons,” with the disposition of enriched material and all other nuclear-related issues to be addressed in the final agreement. CNN’s annotated analysis observes that this article conspicuously omits enrichment percentages, centrifuge limits and inspection frequency, the technical substance that made or broke the 2015 JCPOA.
Article 9 — Status Quo on Nuclear Program Until Final Deal
Pending a final agreement, “Iran will maintain the status quo on its nuclear program and the United States will not impose new sanctions or strengthen its forces in the region.” In effect, Article 9 freezes the standoff at current levels, preventing escalation while negotiations proceed but also preventing rollback.
Article 10 — Immediate Oil Export Waivers
The US Treasury will “issue waivers for exports of Iranian crude oil, petrochemical products and their derivatives, and all related services, including banking, insurance and transportation.” This is the most economically immediate provision: Iranian oil can re-enter global markets from the moment the MOU takes effect before a final deal is concluded.
Article 11 — Frozen Assets Released
“Frozen or restricted funds and assets of the Islamic Republic of Iran will be released and made fully available,” with proceeds directed to the Central Bank of Iran for use as it determines. Iranian state media’s earlier draft cited $24 billion in accessible frozen assets during the 60-day window.
Article 12 — Implementation Oversight Mechanism
“A mechanism will be established to oversee the successful implementation of and future commitment to the final agreement.” The MOU does not define this body’s composition, decision-making rules, or enforcement powers, details deferred to the final-agreement talks.
Article 13 — Sequenced Entry Into Final Talks
Iran and the US will enter final-agreement negotiations only after receiving “assurances regarding the commencement of implementation of Articles 4, 5, 10 and 11” — meaning the naval blockade must be lifting, Hormuz must be opening, oil waivers must be issued, and assets must be moving before the hardest nuclear talks formally begin.
Article 14 — UN Security Council Endorsement
“The final agreement will be approved through a binding resolution of the United Nations Security Council,” placing the eventual comprehensive deal within international law rather than leaving it as a bilateral executive accord.
What the MOU Does Not Resolve
Despite its breadth, the document is as notable for its silences as its commitments. CNN’s annotated version and expert commentary from Reuters and Al Jazeera identify the unresolved core: specific uranium enrichment caps and centrifuge numbers; the inspection and verification framework the IAEA will use; governance, conditionality and disbursement rules for the $300 billion fund; the status and conduct of Iranian-aligned militias in Iraq, Syria, Yemen and Lebanon; long-term Hormuz transit-fee arrangements; and the legal mechanism for “snapping back” sanctions if Iran violates commitments.
Reactions From Washington, Tehran, and Allies
In Washington, the accord has drawn lukewarm congressional response, with some Republican allies of Trump questioning the scale of economic relief front-loaded before nuclear verification is in place and raising the prospect of a formal ratification vote. Trump himself has described the deal as “performance-based” and warned he could restart military operations if Iran fails to comply.
In Tehran, Iranian state media published the MOU points favorably, highlighting the $24 billion in released assets, full sanctions removal and the explicit US pledge to prevent interference with Iranian shipping, framing the agreement as a hard-won Iranian negotiating victory.
At the G7 in Evian, allied leaders welcomed the ceasefire and simultaneously called for a Lebanon ceasefire — a signal that Europe, Canada, and Japan see the MOU as necessary but insufficient for regional stability. Israel’s position and the posture of Gulf Arab states who maintain their own concerns about Iranian regional influence remain among the most consequential variables as negotiators move toward the 60-day final-deal deadline.
The 60-Day Clock and What Comes Next
The MOU’s political clock is now ticking. Negotiators face a tight window in which to resolve questions that stumped diplomats for a decade under the JCPOA and that have only grown more complex since. The sequencing in Article 13 — economic relief first, hard nuclear talks second — gives both sides an early stake in compliance but also raises the risk that if talks collapse before the 60 days expire, Iran will have banked oil revenue and asset access while the nuclear file remains open.
Whether those 60 days produce a genuine, verifiable, and durable final agreement, or simply another framework, a delay, an extension by mutual consent, will determine whether this MOU is remembered as the foundation of a new regional order or as another diplomatic pause in a conflict that was never fully resolved.