Trump Signs 14-Point Memorandum With Iran to End War

Historic Peace Deal Signed at Versailles

President Donald Trump and Iranian President Masoud Pezeshkian have signed a memorandum of understanding, laying out terms for ending the war and reopening the Strait of Hormuz. Trump could be seen signing the memorandum late Wednesday at the Palace of Versailles in video published by French President Emmanuel Macron. Pezeshkian signed the memorandum separately, according to Iranian state media, which posted an image of him holding up a copy with his signature, and shared it on X, calling it a "historic document and a message from a strong Iran: peace will be achieved in the shadow of mutual respect."

Key Terms of the Agreement

The interim agreement declares an intent to bring about an "immediate and permanent termination of military operations" in the U.S.-Israeli war with Iran, which began Feb. 28, unleashing chaos across the Middle East and rattling the world economy. Key points of the deal include both sides agreeing to "the immediate and permanent end to military operations on all fronts, including in Lebanon" and Iran can begin exporting oil as soon as the MOU is signed.

The U.S. is expected to lift sanctions on Iran and unfreeze funds and assets linked to the country's regime under the 14-point memorandum of understanding, and it will also allow Tehran to immediately sell its oil freely. The U.S. and regional partners will develop a reconstruction plan for Iran worth at least $300 billion.

Strait of Hormuz and Nuclear Issues

The MOU stipulates that the Strait of Hormuz will reopen, with Iran agreeing to allow "safe passage of commercial vessels with no charge for 60 days only," followed by negotiations with Oman to "define the future administration" of the vital trade route, through which some 20% of the world's oil passed before the war. The interim agreement, signed late Wednesday, starts the clock on a 60-day negotiating window to resolve key issues around the future of Iran's nuclear program.

Path Forward and Trump's Warnings

Trump said at the G7 in France Wednesday: "If it doesn't get done in 60 days, that's all right. We go back to bombing. I don't want to do that, because it's so good, but we might have to, because we're never going to let them have a nuclear weapon." The United States and Iran signed a memorandum of understanding on Wednesday meant to end the Middle East war, with fighting halted on all fronts, including in Lebanon.