The United States and Iran have signed a memorandum of understanding aimed at ending their conflict and reopening the Strait of Hormuz, with the White House and Iranian state media confirming the agreement was finalised ahead of a planned signing ceremony in Switzerland.
The 14-point document includes a commitment for the Strait of Hormuz to remain toll-free for 60 days, while leaving open the possibility of future charges. A senior US official said they were confident tolls would not be introduced.
The agreement also outlines a $US300 billion ($424 billion) reconstruction fund for Iran, although US officials said the United States would not provide financial support for the fund.
The memorandum reaffirms Iran’s commitment not to develop or acquire nuclear weapons, while leaving key issues surrounding its nuclear program to future negotiations.
US President Donald Trump defended the agreement while attending the G7 Summit in France, rejecting criticism and warning Iran that the US could resume military action if the deal fails.
The White House released the terms of the agreement after days of speculation, with the document largely matching previously reported details. It also provides further information on issues including Iran’s enriched uranium stockpiles and the end of fighting in Lebanon.
Trump said Israel had been shown a copy of the agreement, despite reports that Israeli officials had sought greater access to the details. He also joked about the possibility of the deal failing, saying: “This way, if it works out, I take the credit. If it doesn’t work out, I’m blaming JD,” referring to Vice-President JD Vance.
The agreement sets a 60-day timeframe for negotiations on several major issues, including the reconstruction fund, which Trump said would rely on investment from others rather than US funding.
Source: ABC.
