The United States and Iran have signed a memorandum of understanding within the framework of the agreement aimed at end of the war between the two countries, according to a senior U.S. official.

As reported by Reuters, the document was signed by U.S. President Donald Trump, U.S. Vice President Jay D. Vance, and the Speaker of the Iranian Parliament, Mohammad Bagher Ghalibaf.

The same official stated that the full details of the agreement will be made public within the next 24 to 48 hours, while technical talks on its implementation will begin later this week.

According to reports, the agreement provides for the immediate opening of the Strait of Hormuz and the lifting of the U.S. embargo against Iran. “In the final minutes of the negotiations, the text of the memorandum of understanding was amended to clearly and unequivocally emphasize the issue of Iranian-Omani sovereignty over the Strait of Hormuz,” writes Fars, citing an anonymous source. 

“The use of the term ‘maritime services’ (in the final text) means that the United States will require the payment of fees to Iran,” the agency clarifies.

What we know about the U.S.-Iran agreement

On Sunday evening, Donald Trump appeared categorical regarding the situation in the Strait of Hormuz, stating: “I hereby fully authorize free passage through the Strait of Hormuz and, at the same time, authorize the immediate lifting of the United States naval blockade. Ships of the world, start your engines. Let the oil flow!” An hour later, the U.S. president stated that the opening of this critical sea lane, through which about one-fifth of the world’s oil is transported, depends on the signing of the agreement, scheduled for Friday, and will be done “with the aim of removing the mines”.

It is important to note that the Prime Minister of Pakistan, Shabaz Sharif, the mediator of the peace agreement, made no mention of the strait in his opening statement. Iran’s state news agency Mehr reported, for its part, that the agreed memorandum of understanding provides for the Strait’s reopening within 30 days based on “Iranian regulations”. It is understood, however, that the term apparently refers to the imposition of tolls, a possibility not ruled out even by The New York Times, which reports: “The memorandum of understanding suspends tolls in the Strait for just 60 days and then promises a regional dialogue on the future. Iran had never imposed tolls before the war, so the president is essentially celebrating a return to the pre-war situation.” For their part, the leaders of the United Kingdom, France, Germany, and Italy (E4) spoke of “unconditional” and “freedom of navigation without restrictions” in their statement on the issue of the U.S.-Iran agreement.

What is the status of the nuclear program – Could the US change its alliances in the Middle East?

It is also interesting to see what will happen with Iran’s nuclear program: “Many presidents have tried to make peace with Iran, and they all failed before me,” Trump stated on social media, in an apparent attempt to create an image of triumph befitting the festive atmosphere of his birthday, CNN reported.

Vance added: “What the president has really tasked us with doing is permanently eliminating the nuclear threat from Iran. This has been achieved. Of course, what is noted is that the issue will be subject to negotiation regarding the “timeframe” of the negotiations, which will last 60 days, with Iran, of course, having committed both in the past and now that it will not acquire nuclear weapons under any circumstances. As stated in the 14-point memorandum, published by the Iranian news agency Mehr, “60 days of negotiations for a final agreement focused on Iran’s nuclear program and the broad lifting of sanctions.”

This may also be linked to something else: beyond the warning in his NYT interview about taking new military action if negotiations on the nuclear program collapse (which contradicts Vance’s earlier remarks regarding the “nuclear threat”), Trump signaled that he would make the U.S. the “guardian of the Middle East” in exchange for 20% of the region’s revenues. Such a move, potentially, signify a shift in alliance relations with the Gulf States, while it is noted that—as the deal is presented in Tehran—the U.S. “will withdraw its forces from areas surrounding Iran.” Republican Senator Lindsey Graham, one of the “hawks” in favor of military action against Iran, who has already expressed reservations about the agreement, will also “closely monitor” the issue, the American network notes.

Lebanon

Another point of contention is what applies to Lebanon and whether the ceasefire will extend there as well.  Iran’s Deputy Foreign Minister, Kazem Gharibabadi, was categorical regarding the scope of Sunday’s agreement, stating: “A permanent and immediate ceasefire has been declared on all fronts, including Lebanon”. The Pakistani Prime Minister, Shabaz Sharif, who served as mediator, was also clear, stating in a social media post: “Both sides have declared an immediate and permanent end to military operations on all fronts, including Lebanon.” However, Trump made no mention of Lebanon in his initial announcements on Truth Social, focusing almost exclusively on the Strait of Hormuz. The issue is certainly a “hot button” for Israel, which launched new strikes on Sunday, with Trump stating that the signing of the agreement was delayed, with the strike taking place “one hour” before the “signing.” Whether Netanyahu would actually accept the extension of the ceasefire on the Lebanese front is a major question.

Iranian assets

There is, of course, also the issue of Iran’s frozen assets: “The U.S. insists that any release of Iranian assets or lifting of sanctions will be closely tied to Iran’s compliance. Tehran has stated that the 60-day deadline will only begin to run if Washington starts unfreezing billions of dollars of its frozen funds,”, CNN reports, raising questions about the issue and what has been agreed upon. Among the 14 points cited by the Iranian Mehr news agency regarding the terms of the “memorandum of understanding” is the following: “The release of $24 billion from Iran’s frozen assets during the final 60-day negotiation period, with half of that amount to be made available to Iran prior to the start of negotiations.”