Why it matters:
The memorandum outlines an immediate ceasefire, a roadmap for a final agreement within 60 days, and unprecedented commitments on sanctions relief, maritime security, reconstruction, and Iran’s nuclear program.
The big picture:
The agreement was signed shortly after midnight on Thursday, June 18, 2026 (28 Khordad 1405).
Both presidents signed the text digitally and remotely.
The memorandum declares the immediate and permanent termination of military operations on all fronts, including Lebanon.
The two sides commit to negotiating a final deal within 60 days, with the possibility of extension by mutual consent.
What the memorandum says:
Security and military issues
Both sides pledge not to initiate military action against each other.
The U.S. commits to ending its naval blockade against Iran and removing nearby forces after a final agreement.
Iran commits to facilitating safe commercial shipping through the Persian Gulf and Strait of Hormuz.
Economic measures
The U.S. and regional partners would support a $300 billion reconstruction and development plan for Iran.
Washington would begin issuing waivers for Iranian oil exports, banking, insurance, and transportation services.
Frozen Iranian assets would become fully available for use under mutually agreed procedures.
Sanctions and nuclear issues
The memorandum says the U.S. undertakes to terminate U.N., IAEA, and unilateral U.S. sanctions under an agreed schedule in the final deal.
Iran reaffirms that it will not procure or develop nuclear weapons.
Both sides agree to negotiate the future handling of enriched nuclear material under IAEA supervision.
Pending a final agreement, Iran would maintain the current status of its nuclear program, while the U.S. would avoid new sanctions and additional regional deployments.
Key points:
- Immediate ceasefire on all fronts.
- 60-day timeline for a final agreement.
- Gradual lifting of sanctions.
- Restoration of commercial shipping.
- Release of frozen Iranian assets.
- Iran’s reaffirmation of no nuclear weapons.
- Future deal to be endorsed by a binding U.N. Security Council resolution.
Go deeper:
Whether the document evolves into a binding final agreement will depend on the U.S. abiding by its commitments and regional security arrangements in the weeks ahead.
Mojtaba Darabi - Mahboubeh Habibi
