The United States and Iran have formally signed a memorandum of understanding aimed at ending their nearly four-month conflict. President Donald Trump signed the agreement remotely during a dinner at the Palace of Versailles in France, according to reports from Axios.
The agreement is now in effect. It is intended to serve as a framework for broader negotiations over the next 60 days.
According to Axios, the signing had originally been scheduled to take place in Switzerland on June 19. However, officials and diplomatic sources said discussions accelerated after both sides agreed to reopen the Strait of Hormuz. The waterway is one of the world’s most important shipping routes.
The White House shared a video of Trump signing the document during a state dinner at Versailles. Trump later confirmed the signing and said, “This was not easy, I can tell you.”
The memorandum calls for an immediate halt to military operations between the United States and Iran. Both countries also agreed not to launch future attacks against one another. They also pledged to respect each other’s sovereignty and borders.
The deal includes plans to reopen the Persian Gulf and the Strait of Hormuz to commercial shipping. It also establishes a monitoring mechanism to oversee compliance.
Under the agreement, Iran agreed not to pursue nuclear weapons. It also agreed to negotiate the future disposition of its enriched uranium stockpiles under the supervision of the International Atomic Energy Agency.
Tehran also agreed to reopen the Strait of Hormuz without tolls during the 60-day negotiation period. Iran further agreed to reduce its stockpile of enriched uranium.
The memorandum outlines potential economic incentives if Iran complies with the terms. Those measures include a proposed $300 billion reconstruction and development package funded by regional partners. They also include sanctions relief, access to frozen Iranian assets, and the ability to sell oil without restrictions.
U.S. officials said Washington would help facilitate the package. However, it would not directly fund it.
A senior administration official told reporters that the United States would begin removing its naval blockade around Iran once all parties signed and ratified the memorandum.
The broader agreement is not expected to be fully implemented until after the 60-day negotiating window concludes.
Pakistani Prime Minister Shehbaz Sharif, who has played a mediating role in the negotiations, announced the signing on social media and said the memorandum demonstrated both sides’ commitment to a diplomatic resolution.
Sharif said a formal ceremony and technical-level talks are expected to take place in Switzerland on Friday.
According to Axios, U.S. and Iranian delegations are still expected to meet in Switzerland later this week. The talks are expected to focus on launching negotiations over Iran’s nuclear program. Officials also hope to develop a more comprehensive long-term agreement.
Trump said earlier this week that Iran had “been acting very appropriately” during the negotiations. However, he warned that military action could resume if talks collapse or Iran fails to fulfill its obligations under the memorandum.