SRINAGAR: The United States and Iran have signed a landmark 14-point memorandum of understanding (MoU) aimed at ending months of conflict, reopening the Strait of Hormuz, easing sanctions on Tehran and paving the way for a comprehensive agreement on Iran’s nuclear programme within the next 60 days.
President Donald Trump signed a copy of the US-Iran agreement at the Palace of Versailles in France, concluding his G7 trip. The US then sent a photo of the signed agreement to the Iranians, a US official said. The document was then signed by Iranian President Masoud Pezeshkian.
The agreement, signed in Geneva by US President Donald Trump and Iranian President Masoud Pezeshkian, formalises an immediate and permanent cessation of military operations between the two countries and their allies, including hostilities linked to Lebanon. The deal extends the existing ceasefire and establishes a framework for negotiations on a final settlement.
The United Nations’ nuclear watchdog, the International Atomic Energy Agency (IAEA), welcomed the agreement, with Director General Rafael Grossi saying technical discussions would now begin on implementing its provisions.
Under the first provision of the agreement, both sides committed to the immediate termination of military operations and pledged not to initiate future military action against one another. The accord also includes commitments to respect each other’s sovereignty, territorial integrity and internal affairs.
The final agreement, which negotiators hope to conclude within 60 days, is expected to formally codify the permanent end of the conflict and other security arrangements.
A central feature of the deal is the reopening of the Strait of Hormuz, one of the world’s most important energy corridors through which a significant share of global oil and gas supplies passes.
The United States agreed to begin removing naval restrictions and military impediments affecting Iran immediately after the signing of the MoU and to fully end its naval blockade within 30 days. Iran, in turn, committed to facilitating the safe passage of commercial vessels through the strategic waterway and undertaking de-mining and maritime clearance operations.
Iran will also begin consultations with Oman and other Gulf states regarding future administration and maritime services related to the strait in accordance with international law.
The agreement provides substantial economic concessions to Iran. The agreement ends the war on all fronts, including in Lebanon, where Israel has continued to carry out strikes. Trump said the US sent Israel a copy of the agreement, and again criticized Israel’s military actions against Hezbollah, saying, “they could do better.”
Washington has agreed to issue waivers allowing the export of Iranian crude oil, petroleum products and associated services, including banking, insurance and transportation. The United States also undertook not to impose new sanctions during the negotiation period.
The MoU further commits Washington to work towards terminating all sanctions against Iran, including US primary and secondary sanctions as well as relevant United Nations restrictions, under a timetable to be negotiated in the final agreement.
The United States also pledged to make available Iranian funds and assets that have been frozen or restricted, subject to mutually agreed procedures.
One of the most significant provisions is a commitment by the United States and regional partners to develop a reconstruction and economic development package worth at least $300 billion for Iran.
The mechanism for implementing the programme will be negotiated as part of the final agreement. US officials have indicated that regional partners, particularly Gulf countries, are expected to play a major role in financing the initiative.
The agreement does not resolve all questions surrounding Iran’s nuclear programme but establishes a framework for negotiations.
Iran reaffirmed that it will not procure or develop nuclear weapons. Both countries agreed to negotiate the future disposition of Iran’s stockpile of enriched nuclear material under IAEA supervision.
The MoU envisages discussions on uranium enrichment, nuclear fuel requirements and verification mechanisms as part of the final settlement.
Pending a permanent agreement, Iran will maintain the current status of its nuclear programme, while the United States will refrain from imposing additional sanctions or deploying new military forces in the region.
The two sides agreed to establish a joint mechanism to monitor implementation of the MoU and ensure compliance with any future agreement.
The final settlement is expected to be endorsed through a binding United Nations Security Council resolution.
The agreement has already sparked debate internationally. Supporters argue that reopening the Strait of Hormuz and reducing tensions in the Gulf could stabilise global energy markets and avert further economic disruption.
Critics, however, contend that the deal grants Iran significant economic benefits before a final resolution of nuclear issues has been secured.
The conflict, which began on February 28, resulted in thousands of deaths across the region, disrupted shipping routes and contributed to sharp increases in energy prices and inflationary pressures worldwide.
Despite differing assessments of the accord, diplomats view the agreement as the most significant breakthrough in US-Iran relations in years and a potentially decisive step towards ending one of the Middle East’s most dangerous confrontations.
