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US-Iran memorandum of understanding in full

June 18, 2026

The United States and Iran have reached a memorandum of understanding that establishes an immediate ceasefire and outlines a framework for ending their conflict through negotiations over the next 60 days. The agreement requires the US to lift its naval blockade within 30 days and begin removing sanctions, while Iran commits to reopening the Strait of Hormuz for commercial shipping and reaffirms it will not develop nuclear weapons. The deal includes provisions for at least $300 bilateral in reconstruction aid for Iran and the release of frozen Iranian assets.

Who is affected

  • The United States of America and the Islamic Republic of Iran
  • Both countries' allies in the current war
  • Lebanon (specifically mentioned regarding military operations)
  • Commercial vessels and shipping companies using the Strait of Hormuz
  • The Sultanate of Oman
  • Other Persian Gulf coastal states
  • Regional partners involved in reconstruction planning
  • The International Atomic Energy Agency (IAEA)
  • The United Nations Security Council

What action is being taken

  • Both the US and Iran are declaring immediate and permanent termination of military operations on all fronts
  • The US is beginning removal of its naval blockade
  • Iran is making arrangements for safe passage of commercial vessels through the Strait of Hormuz
  • Iran is removing tactical and military obstacles and conducting de-mining operations
  • The US Department of Treasury is issuing waivers for export of Iranian crude oil and related services
  • The US is making frozen Iranian funds and assets available for use
  • Both countries are establishing an executive mechanism to monitor implementation
  • Negotiations for the final deal are starting

Why it matters

  • This agreement represents a potentially historic shift in US-Iran relations, ending active military conflict between two nations that have been adversaries for decades. The reopening of the Strait of Hormuz is globally significant as this waterway is a critical chokepoint for international oil shipments and global commerce. The commitment from Iran not to develop nuclear weapons, combined with sanctions relief and massive reconstruction funding, could fundamentally reshape Middle Eastern geopolitics and regional stability. The deal also has implications for Lebanon and other regional actors caught in the conflict, offering a pathway toward broader peace in the region.

What's next

  • Both sides commit to negotiating and achieving a final deal within a maximum of 60 days (extendable with mutual consent)
  • The US will fully end the naval blockade within 30 days
  • Iran will fully instate commercial vessel traffic within 30 days after removing obstacles and completing de-mining
  • The US will remove its forces from proximity to Iran within 30 days after the final deal
  • Iran will conduct dialogue with Oman to define future administration of the Strait of Hormuz
  • A mechanism for implementing the $300 billion reconstruction plan will be finalized within 60 days
  • Both parties will immediately address sanctions termination and nuclear issues in negotiations
  • Procedures for release of frozen funds will be mutually agreed upon during negotiations
  • The final deal will be endorsed by a binding UN Security Council resolution

Read full article from source: BBC