A White House official confirmed to Reuters on June 17 that President Donald Trump signed the peace MOU with Iran. Iranian state media reported that the agreement was officially signed by both presidents, citing comments from Iranian Foreign Ministry spokesman Esmail Baghaei. Following the signing, the MOU is now in effect, according to Axios.
CNN reported that President Trump signed the agreement at the Palace of Versailles in France while concluding his visit to the G7 summit. U.S. officials explained that after Trump signed the printed document, a photo of it was sent to Iran, after which Iranian President Masoud Pezeshkian also signed the MOU.
The expedited signing allows for the implementation of the agreement to begin sooner than expected. According to Reuters, Iran can resume oil exports starting from this day for a 60-day period, during which both countries will engage in detailed follow-up negotiations.
The publicly available draft of 14 articles includes provisions for an immediate and permanent cessation of military operations across all fronts, including Lebanon. The U.S. will lift its maritime blockade against Iran and grant exemptions for Iranian oil and petroleum product exports, as well as related banking transactions and insurance and transportation services.
Iran reaffirmed its commitment not to procure or develop nuclear weapons. Both sides agreed to discuss the handling of Iran's enriched uranium stockpile, considering methods for low-enrichment under the supervision of the International Atomic Energy Agency (IAEA).
Additionally, the agreement includes plans for the U.S. and regional partners to develop a $300 billion reconstruction and economic development plan for Iran. It also states that the U.S. will allow the use of frozen or restricted funds and assets as negotiations progress, with the final agreement to be approved by a binding United Nations Security Council resolution.
Iran Claims Control Over Hormuz Strait, A Variable in Future Negotiations
Follow-up negotiations are scheduled to take place in Switzerland on June 19. Axios reports that the U.S. delegation, led by Vice President JD Vance, will meet with the Iranian negotiating team headed by Mohammad Bagher Ghalibaf, the Speaker of the Iranian Parliament. The agenda will likely cover the implementation procedures of the agreement, the negotiation timeline for the 60-day period, methods to limit Iran's nuclear activities, and the scope of sanctions relief.
A key issue remains the Strait of Hormuz, a vital global energy transport route. Iran has stated it will normalize maritime operations during the 60-day period specified in the MOU, but has made it clear that it intends to maintain control over the strait and charge fees for passage after the agreement period.
Ghalibaf, the Iranian chief negotiator, stated in an interview with state television, "The Strait of Hormuz will not return to its pre-war state," emphasizing that Iran will impose tolls after the free passage period ends. He added, "Iran has the right to exercise sovereignty over the Strait of Hormuz and will naturally charge for the services we provide," but clarified that this does not mean acting contrary to international law or maritime navigation principles.
President Trump has previously stated that he cannot accept a toll on the Strait of Hormuz, through which about one-fifth of the world's oil and liquefied natural gas (LNG) supply passes. Therefore, despite the signing of the U.S.-Iran peace MOU, the normalization of passage through the Strait of Hormuz and the toll issue are expected to become new points of contention in future negotiations.
* This article has been translated by AI.
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