Overview
- U.S. President Donald Trump and Iranian President Massud Peschkian signed the 14‑point memorandum on Wednesday, and Pakistan, a mediator, said the agreement takes effect immediately.
- The text calls for an immediate and permanent end to military operations on all fronts and requires Iran to dilute or render unusable its highly enriched uranium under IAEA supervision.
- The United States will lift its naval blockade within 30 days and allow fee‑free passage through the Strait of Hormuz for an initial period while Iran is permitted to resume oil exports under exception licenses.
- The framework proposes a reconstruction and development fund of at least $300 billion but U.S. officials say Washington will not directly finance the plan and key financing and sanctions‑relief timelines remain to be negotiated.
- Major details remain unresolved and contested, including precise nuclear verification steps, when the 60‑day negotiating clock officially starts, whether a formal Swiss signing will occur, and political pushback that includes public U.S. threats of renewed strikes if Iran violates the memorandum.