The U.S. and Iran have signed a 14-item cease-fire memorandum to end combat and restore shipping in the Strait of Hormuz [1, 2].
The agreement marks a significant shift in geopolitical tensions, as it seeks to stabilize global energy markets by reopening a critical maritime chokepoint and addressing nuclear proliferation concerns.
President Donald Trump said the signing took place at the Versailles Palace in France [2]. Iranian President Ebrahim Pezeshkian signed the document electronically, reports said [2]. The memorandum includes a commitment from Iran to not develop nuclear weapons [1, 2].
Under the terms of the agreement, shipping through the Strait of Hormuz is expected to be normalized within 30 days [1]. The deal also establishes a 60-day period of fee-free navigation [2]. Both nations intend to reach a final, comprehensive agreement within 60 days of the signing [2].
Financial components of the memorandum include mentioned reconstruction funding totaling 48 trillion yen [1]. The agreement further allows for the resumption of Iranian oil exports [1, 2].
However, reports on the status of the deal vary. While some sources state the memorandum was signed on June 18 or 19, other reports suggest that Iranian media claims talks have stopped and the agreement remains unsigned [1, 2, 3]. Some accounts indicate the memorandum was awaiting final approval from President Trump as late as June 29 [3].
Trump said, "I signed it. I signed it at Versailles," regarding the memorandum [2].
“The U.S. and Iran have signed a 14-item cease-fire memorandum to end combat.”
The memorandum represents a tentative attempt to decouple economic interests—specifically oil exports and maritime transit—from the long-standing nuclear standoff. However, the contradictions between official U.S. statements and Iranian media reports suggest a fragile diplomatic environment where the actual implementation of the cease-fire remains uncertain.
