US-Iran Memorandum Sets New Ceasefire and Peace Path
Read the latest on the US-Iran memorandum covering a ceasefire extension, peace talks, sanctions relief, frozen funds and the reopening of the Strait of Hormuz.
The United States and Iran have agreed to sign a memorandum of understanding focused on negotiations to end the war and extend the ceasefire. The announcement was made by US President Donald Trump.
According to Trump, an agreement with the Islamic Republic of Iran has been reached. Progress in the talks was also confirmed by Pakistani Prime Minister Shehbaz Sharif, who said the official signing ceremony is scheduled for June 19 in Switzerland.
The memorandum contains 14 points. It calls for an immediate and indefinite halt to the war on all fronts, including Lebanon. Under the document, Washington pledges not to interfere in Tehran’s internal affairs and to respect Iranian sovereignty.
Iran’s naval blockade is to be fully lifted within 30 days. The United States must also withdraw troops from areas located near Iran. Another key result of the negotiations is the reopening of the Strait of Hormuz for shipping.
The agreement also includes the suspension of sanctions on Iranian oil sales. In addition, the United States and its allies are expected to present plans for the reconstruction of Iranian facilities worth $300 billion.
Over the next 60 days, the parties will continue talks aimed at reaching a final peace agreement. Tehran, for its part, commits not to produce nuclear weapons. During the negotiations, the White House must not impose new sanctions or increase its military presence in the region.
A separate provision covers the unfreezing of $24 billion in Iranian funds. A special mechanism will be created to monitor compliance with the agreements. The final deal is expected to be approved through a UN Security Council resolution.
However, the final round of negotiations will not begin until half of Iran’s frozen assets have been released, oil sanctions have been suspended, and the naval blockade has been lifted.
The final agreement will not be concluded until both sides fulfill the obligations set out in the memorandum.