An agreement has been reached between the United States and Iran to end fighting and reopen the Strait of Hormuz, according to President Donald Trump and details of a draft memorandum of understanding released by Iranian state-affiliated media Sunday.
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The agreement includes a provision that Iran reaffirm its commitment to abstain from producing nuclear weapons, according to Iranian media. Trump has repeatedly said during negotiations that Iran cannot be allowed to have a nuclear weapon.
“The Deal with the Islamic Republic of Iran is now complete,” Trump said in a post on Truth Social. “Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!”
Pakistani Prime Minister Shehbaz Sharif made a similar announcement minutes before Trump’s statement.
“Following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and Islamic Republic of Iran has been REACHED,” Sharif said on X. “Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.”
A signing was scheduled for Friday in Switzerland, Sharif said. He said “pre-implementation discussions” would take place in the interim. It was not clear what that entailed.
The Iranian Secretariat of the Supreme National Security Council said via semi-official state news outlet Tasnim that, according to the agreement, all warfare between the parties would cease “immediately and permanently from tonight” and that the naval blockade would end.
U.S. commitments under the memorandum would have to be met before negotiations for a final agreement could begin, the council said.
The White House did not immediately respond to requests for comment.
It’s unclear when the strait will be fully open. Trump said in a post on Truth Social later Sunday that the channel would open “upon the signing of the Deal on Friday, for purposes of mine removal.”
NBC News has reported that the U.S. military has not confirmed that Iran placed mines in the strait, according to sources.
The agreement is intended to bring a halt to the U.S. and Israel’s war against Iran, which began on Feb. 28, marked by the assassination of Supreme Leader Ayatollah Ali Khamenei and U.S.-Israeli strikes across Iran.
A ceasefire was agreed in April to allow for negotiations, though both sides have continued with some strikes amid a dispute over the Strait of Hormuz, a vital trade route through which some 20% of the world’s oil passed before the war.
The price of U.S. crude oil fell more than 4.5% to $80 per barrel, its lowest level since the first week of March, as trading opened Sunday evening, shortly after the announcement.
Brent crude oil also tumbled by about 4%, touching $83, its lowest level since early March as well. Still, even at $80, oil prices have risen more than 20% since the war started and more than 40% since the beginning of the year. Last week, prices dropped more than 6% as momentum built toward the announcement of a deal.
Memorandum of understanding
The memorandum of understanding draft is composed of 14 points, and includes an end to the war, including in Lebanon, and the withdrawal of U.S. forces around Iran, according to reporting from Iranian state affiliated Mehr News.
The White House has not addressed the details of the memorandum.
Under the memorandum, Iran will also reaffirm its commitment under the Nuclear Non-Proliferation Treaty to abstain from producing nuclear weapons, Mehr reported.
Also included are points that oil and some financial sanctions on Iran will be lifted, the U.S. and allies will submit plans for reconstruction, Mehr reported.
Final negotiations will have a 60-day window and focus on nuclear weapons development, remaining sanctions, and United Nations Security Council and International Atomic Energy Agency Board of Governors resolutions regarding Iran, Mehr reported.
An estimated $24 billion in frozen Iranian funds are to be unfrozen during the window, half before final negotiations begin, Mehr reported. Trump and Iranian officials clashed Friday over the release of frozen Iranian assets.
The 14th point summarizes crucial elements of the memorandum, saying that a final resolution hinges on certain commitments, including the unfreezing of some funds, suspension of oil sanctions, and lifting of the U.S. naval blockade of Iranian port traffic. Other points in the draft stipulate the blockade will be lifted and the strait will reopen within 30 days, according to Mehr.
It also says, according to Mehr News report, that the final agreement will be limited to the fate of enrichment activities, sanctions relief, and Iran’s war reconstruction. Left out, it reports, is discussion of Iran’s missile program and its support for “resistance groups.”
Signing ceremony
In a story published Sunday, Trump told the Wall Street Journal that the deal would either be signed by the president electronically or by Vice President JD Vance in person.
Vance said Sunday evening, shortly after Trump’s announcement on Truth Social, that the logistics of the signing ceremony are still being worked out.
“I certainly plan to be there, but it’s possible the president himself could be there,” Vance said on Fox News.
He added that the deal was a “new leaf” and that “we’re going to keep working at it.”
“I’m not going to say that everybody is going to sing Kumbaya tomorrow. It’s going to take a little bit of time to learn the ways of peace, but I do think we took a major, major step tonight,” Vance said.
Beirut strikes
The Lebanese government and the Iran-backed militant group Hezbollah have not made any public comment on the agreement as Israel has targeted parts of Lebanon in a campaign to dismantle the proxy fighters who launch munitions at Israel just across its norther border.
Israel, the United States’ partner in the war with Iran, said its military attacked Hezbollah targets in Beirut’s southern suburbs Sunday in retaliation an earlier attack on Israeli territory. Lebanon’s Civil Defense Ministry said three people were killed.
Speaking on Truth Social earlier Sunday, Trump said the strikes on Beirut “should not have happened, particularly on a special day when we are so close to a Peace Deal with Iran.”
“All sides should stand down,” he said. “There should be no more attacks by Israel anywhere in Lebanon.”
There was no immediate public comment from Israeli leadership.
Reaction to the agreement
United Nations Secretary-General António Guterres congratulated the U.S. and Iran for reaching what he called a “peace deal,” saying it would mean a “permanent ceasefire” for the waring nations.
“This represents a critical step towards the peaceful settlement of the conflict,” he said.
Qatar’s Ministry of Foreign affairs said on Sunday the country welcomes the agreement as “an important step towards consolidating sustainable peace and promoting economic growth” and as a means to “de-escalate tensions and bring viewpoints closer together” in the Middle East.
U.K. Prime Minister Keir Starmer and French President Emmanuel Macron also welcomed the agreement and progress toward easing tensions in the region and economic impacts with the reopening of the strait.
“For any peace to endure, it is essential that the commitments made, particularly in relation to Iran’s nuclear programme, are robust, verifiable and fully implemented,” Starmer wrote. “It remains the UK’s firm and longstanding position that Iran must never have a nuclear weapon.”
In the U.S., GOP lawmakers showed support for the agreement Sunday evening.
“For 47 years, Iran has attacked the United States, our allies, and every American they could find in the region. The people of Iran live under the oppression of the regime, and the United States has spent billions of dollars each year defending ourselves from the threat,” Sen. James Lankford, R-Okla., posted on X, praising Trump for reaching a deal.
The U.S. and Iran had for weeks appeared to be nearing a deal, but reopening the strait had become a major sticking point in talks between the two nations. Iran briefly agreed to do so last month, bringing some relief to the oil-trading Gulf states that rely on it, but closed it again when the U.S. launched a blockade barring ships from entering or exiting Iranian ports.
Trump administration officials had said that averting the risk of Iranian nuclear weapons would be central to any deal, eight years on from Trump’s decision during his first term to withdraw from a previous agreement, reached under President Barack Obama, intended to limit Iran’s nuclear program.
Thousands have been killed in the wider war that has consumed the region, with the highest death tolls reported in Iran and Lebanon.
The U.S.-based rights group HRANA documented more than 3,600 people killed in Iran, including more than 1,700 civilians, since the U.S. and Israel first launched their attacks in late February, sparking a wider conflict in the region.More than 3,700 people have been killed in Lebanon, 36 have been killed in Gulf states, and 20 have died in Israel. Thirteen U.S. service members have been killed, and two more died of noncombat causes.
