The Trump administration on Wednesday shared the full text of a preliminary memorandum of understanding with Iran aimed at ending the war and reopening the Strait of Hormuz.
Senior officials read the 14-paragraph document aloud during a briefing for reporters. The framework declares an immediate and permanent end to military operations on all fronts, including Lebanon, and sets a maximum 60-day period for negotiations on a final deal.
The United States commits to ending its naval blockade within 30 days of signing and to removing forces from Iran's proximity after a final agreement. Iran agrees to ensure toll-free safe passage for commercial vessels through the Strait of Hormuz for 60 days.
The memorandum also outlines plans for a reconstruction fund of up to $300 billion and the eventual lifting of sanctions, both tied to a final deal. Iran reaffirms it will not procure or develop nuclear weapons.
President Trump said he formally signed the framework during a meeting with French President Macron. A signing ceremony is scheduled for Friday in Geneva.
