President Donald Trump speaks as he attends a bilateral meeting with French President Emmanuel Macron during the G7 Summit in Evian-les-Bains, France, June 15, 2026.Evelyn Hockstein/Reuters
President Donald Trump and Vice President JD Vance have both executed a memorandum of understanding with Iran, which would pause hostilities on all fronts for two months and is anticipated to re-establish access through the Strait of Hormuz for all transit, a high-ranking administration source stated on Monday.
The source indicated that the signatures were completed electronically, with a formal ratification scheduled to occur in Geneva, Switzerland on Friday.
While the source mentioned that the particulars of the accord will be disclosed within the upcoming 24 to 48 hours, Trump remarked on Monday that the document’s text would be made public “rather soon,” but following Friday’s proceedings.
“This is a highly significant document, and I desire its release. Therefore, likely quite promptly,” Trump commented during a press conference with French President Emmanuel Macron shortly after arriving in France for the G7.
President Donald Trump speaks as he attends a bilateral meeting with French President Emmanuel Macron during the G7 Summit in Evian-les-Bains, France, June 15, 2026.Evelyn Hockstein/Reuters
Trump stated that it “remains to be seen” whether he would participate in the signing ceremony in Geneva on Friday, but confirmed Vance’s attendance.
Senior administration officials on Monday conceded that considerable work is still necessary during the forthcoming detailed nuclear discussions, yet they affirmed establishing direct communication lines with “several individuals at the highest echelons of the Iranian government” and reaching “what we anticipate will be a consensus in the subsequent phase.”
A senior administration official conveyed that the memorandum of understanding “stipulates the immediate reopening of the Strait of Hormuz,” which Iran had sealed after the conflict commenced. The official also stressed “immediate — to be precise, it requires a measure of time, given the presence of naval mines in the strait.”
Esmaeil Baqaei, a spokesperson for Iran’s Foreign Ministry, stated that, as per the MOU, Iran would be tasked with ensuring “the security and unimpeded passage of vessels,” adding that Tehran would undertake this responsibility in collaboration with Muscat and in consultation with relevant parties.
On Monday, the president announced that “the strait is already partially accessible” and is expected to be fully open by Friday, with ongoing efforts to clear the area of sea mines.
“I believe it will normalize very, very rapidly, and I think obviously the priority will be given to the large oil carriers, you know, the gas, the petroleum. I think that will actually move very quickly,” the official commented.
The U.S. maritime blockade of Iranian ports will also be rescinded; however, the U.S. Navy cautions that it will remain in effect until the accord is officially finalized.
Regarding transit fees, the official noted that the MOU guarantees the Strait of Hormuz will be “toll-free for 60 days,” with the expectation that this provision will be incorporated into the “final agreement as well.”
Vessels in the Strait of Hormuz, Iran, May 22, 2026.Majid Asgaripour/West Asia News Agency via Reuters
Iranian representatives indicated that a cessation of hostilities in Lebanon is encompassed within the agreement. Nevertheless, Israel’s defense minister stated following the announcement of the accord that Israel has no intention of withdrawing its forces from southern Lebanon.
When questioned about Israel’s involvement in the MOU, one of the senior U.S. administration officials responded by stating that Israel’s withdrawal from Lebanon was “not a prerequisite for the deal.”
“The accord is a ceasefire, and it will not be unilateral, meaning that if Iran is unable to restrain Hezbollah, and if they launch attacks on Israeli positions or Israeli communities, Israel will retain the right to defend itself and retaliate,” a senior administration official affirmed.
The senior U.S. administration official elaborated that the MOU’s framework includes “ensuring that [Iran is] not developing nuclear weapons and not financing radicalism and terrorism in the region.” In exchange, the official stated, it would lead to the liberalization of the Iranian economy.
Iranian officials have consistently asserted publicly that the nation’s nuclear program is exclusively for civilian purposes, although Western officials have suggested their uranium enrichment activities have surpassed the requirements for civilian use. Iran has also declared it does not possess intentions of developing nuclear weapons, a claim that American officials have contested.
The officials further noted that the MOU does not entail a reduction in the U.S. military presence in the region.
The senior administration official confirmed that to date, “no funds from unfrozen assets” have been disbursed to Iran.
The officials clarified that there are no specific actions Iran must undertake to receive sanctions relief, but rather it is contingent upon Iran “demonstrating more appropriate conduct” generally.
“Their economy is in a difficult state, and they urgently require relief, and so hopefully, we will find a path to an agreement swiftly. If not, President Trump possesses numerous instruments at his disposal that he can employ,” the senior administration official stated.
Sourse: abcnews.go.com