President Donald Trump said the United States has electronically signed a memorandum of understanding with Iran to end the war between the two nations.
The agreement is significant because it aims to restore commercial shipping by lifting the U.S. naval blockade of Iranian ports and reopening the Strait of Hormuz.
Trump made the announcement on June 15 [2] while attending the G7 summit in France. He said the deal is already finalized on the American side, saying, "The deal is all signed on the U.S. side."
According to the memorandum, the accord will facilitate the end of the conflict and allow for the resumption of oil shipments. Trump said the economic impact of the move, saying, "Let the oil flow."
A formal public signing ceremony is scheduled for Friday, June 19 [1], in Geneva, Switzerland. This event will mark the official transition from the electronic agreement to a public diplomatic accord.
While the U.S. has confirmed the signing, the specific terms of the agreement remain a point of contention among reporters. Some sources indicate that details will be released in the near future, while others said the terms remain secret and no details have been disclosed yet.
The deal involves coordination between the U.S. administration and Iranian officials to ensure the security of the Strait of Hormuz—one of the world's most critical oil transit chokepoints—and the removal of naval restrictions on Iranian maritime trade.
“"The deal is all signed on the U.S. side."”
The reopening of the Strait of Hormuz and the lifting of the naval blockade could lead to a significant increase in global oil supply and a reduction in maritime insurance premiums for tankers. By moving the formal ceremony to Geneva, the two nations are utilizing a neutral diplomatic hub to signal a shift from military confrontation to a negotiated peace, though the secrecy surrounding the specific terms suggests that sensitive concessions were likely made regarding sanctions or regional security guarantees.
