During a dinner at the Palace de Versailles in France, held on the evening of June 17, 2026 (early morning of June 18 in the Philippines), concluding the G7 Summit, Trump signed a hard copy of the MOU while Pezeshkian used a digital signature.
The fourteen-paragraph agreement states:
* The fighting is to cease immediately. Military operations, including those in Lebanon, are to be permanently halted.
* The "final deal" will be achieved within 60 days. "The United States of America and the Islamic Republic of Iran commit to negotiating and achieving the final deal in maximum 60 days, extendable with mutual consent."
* The United States will lift its naval blockade on Iran within 30 days. "During this period, traffic of vessels will be in proportion to the numbers of pre-war traffic being restored by the Islamic Republic of Iran." Also, the US "further undertakes to remove its forces from the proximity of the Islamic Republic of Iran within 30 days after the final deal."
* The Strait of Hormuz, a key route for commercial maritime traffic, will be reopened, and no tolls will be charged for 60 days. "Iran will work not just with Oman but with the Gulf states to set up a broader agreement, a longer term agreement on the Strait of Hormuz."
* A sum of $300 billion will be allocated for Iran's development. "The US undertakes with regional partners to develop a fund of at least $300bn (£224bn) for the reconstruction and economic development of the Islamic Republic of Iran."
* All penalties or sanctions will be lifted: "The US undertakes to terminate all types of sanctions against the Islamic Republic of Iran," with a specific day set for this.
* Iran is to be without nuclear weapons: "The US and Iran agree that Iran will never have a nuclear weapon, and they will work together on removing Iran's enriched nuclear material through blending on site under the supervision of the IAEA."
However, Trump warned that the agreement is not final and the US may resume attacks if the terms of the MOU are not adhered to.
