US, Iran sign memorandum ending war and reopening Strait of Hormuz

BASRA, Iraq — U.S. President Donald Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding ending hostilities between the two countries and reopening the Strait of Hormuz, according to U.S. officials cited in the report. Trump signed the document on Wednesday during a dinner with French President Emmanuel Macron in France, the officials said. Iran's Foreign Ministry said the two sides agreed to sign the memorandum electronically and that U.S. and Iranian delegations will meet in Switzerland on Friday to begin negotiations on a final agreement. A 14-point text titled "U.S.-Iran Islamabad Memorandum of Understanding," published by Reuters, calls for a permanent end to military operations, the lifting of the naval blockade, and the reopening of the strait. The negotiations are expected to be completed within 60 days, with the possibility of extension by mutual agreement. Iran will guarantee safe and toll-free passage for commercial vessels between the Persian Gulf and the Sea of Oman for 60 days; the blockade is to be lifted within 30 days, and the withdrawal of U.S. forces from around Iran is to be completed within 30 days of the final agreement. The United States will prepare a plan of at least $300 billion with regional partners for Iran's reconstruction and economic development, lift all sanctions on Iran, and release frozen Iranian assets. Iran has committed not to produce nuclear weapons, while the question of enrichment has been left to the final negotiations, which are planned to be backed by a UN Security Council resolution.