The United States and Iran have signed a memorandum of understanding to resolve the nearly four-month war, senior US officials said today, adding that a signing ceremony would be held on Friday and that maritime traffic in the Strait of Hormuz would gradually increase.
The memorandum of understanding was signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf, a US official said.
Speaking at a press briefing, the US official added that a signing ceremony will also be held on Friday.
“You’re going to see a significant increase in traffic in the Strait of Hormuz, in fact it’s already starting, and it’s going to gradually increase over time,” the US official said, speaking on condition of anonymity.
“We probably won’t be back to normal for two weeks, but we will see a significant increase in traffic through the strait,” the official said.
The US and Iran said they had agreed on terms to end the war and reopen the strait, bringing relief to markets, although a deal could depend on an end to hostilities in Lebanon and delays talks on Tehran’s nuclear program.
While still a tentative deal, the deal marked the biggest move toward resolving a conflict that has killed thousands and disrupted energy markets since it began with joint US-Israeli attacks on Iran in February.
“The deal with the Islamic Republic of Iran is now complete,” US President Donald Trump wrote on his Truth Social platform on Sunday.
Leaders around the world welcomed the announcement on Monday as details of the terms began to emerge.
Although the text has not yet been released, its apparent call for a broader cessation of hostilities could be problematic for Israel, which did not take part in the talks and is waging a war in Lebanon against Hezbollah, a group linked to Iran.
“Lebanon is an integral part of the agreement on ending the war,” said the spokesman of the Iranian Ministry of Foreign Affairs, Esmail Bagai, adding that the text called for ending the war on all fronts, as well as respecting the territorial integrity of Lebanon.
Leaders of the Group of Seven wealthy nations, including Trump, are due to arrive in the French lakeside resort today.
Lebanon as a disputed issue
Although the US and Iran largely suspended hostilities in early April to engage in negotiations, fighting has not stopped in Lebanon, where Hezbollah opened fire on Israel on March 2 in support of Tehran, and Israel responded with an air campaign and ground invasion that displaced some 1.2 million people.
Iranian Foreign Minister Abbas Aragchi said there must be a complete end to Israeli attacks on Lebanon and wrote on Telegram that the US bears the responsibility for implementing the framework agreement.
Hezbollah welcomed the deal and said Lebanon’s inclusion reflected Iran’s commitment to securing an end to the war and safeguarding Lebanon’s rights.
After the deal was announced, the pace of Israeli attacks in Lebanon dropped dramatically, Lebanese and foreign security sources told Reuters.
Earlier, a Hezbollah official told the British agency that the group had not carried out any operations since the deal was announced and that its position on the ceasefire was linked to whether Israel abided by it.
Trump said before the memorandum was released that there should be no more Israeli attacks on Lebanon or Hezbollah attacks on Israel.
Israeli Prime Minister Benjamin Netanyahu has not yet spoken publicly about the US-Iran deal. However, Defense Minister Israel Katz said Israel would remain “indefinitely” in the areas it occupies in southern Lebanon to eliminate what it sees as militant threats.
Privately, Israeli officials’ views on the deal are negative. A senior Israeli official told Reuters the deal was “terrible for Israel” and that assessment was shared by everyone in the government, from Netanyahu on down.
Opening of Hormuz
Trump said the Strait of Hormuz, a vital sea route for global oil and gas supplies that Iran has kept virtually closed for months, would reopen on Friday, and he ordered an end to the US blockade of Iranian ports.
“Ships of the world, start the engines. Let the oil flow!” he wrote on Sunday. On Monday, he said traffic was already being restored: “Ships are starting to move, many loaded with oil, from the Strait of Hormuz.”
Oil prices fell, although shippers remained cautious and clearing the waterway of mines could take weeks. Brent North Sea oil futures fell around five percent on Monday, while stock markets rose.
France and Britain are ready to lead a mission in the strait, with support from the Netherlands and Italy, to help reopen the sea route after the deal becomes a reality, French President Emmanuel Macron said on Monday.
US Vice President JD Vance said he hoped the text of the agreement would be released this week, while further negotiations on the details of the deal should continue.
“We expect Moreuz to be open long-term without tolling,” he told CNBC. “That’s the kind of issue we’re going to address in these technical negotiations.”
Iran’s Fars news agency, citing an informed source, reported that the draft agreement recognizes Iran-Omani jurisdiction over navigation services in the strait. Tehran has agreed to allow free passage for only 60 days, after which it plans to charge for passage.
The war has become a political burden for Trump at home, as Americans are deeply unhappy with rising fuel prices ahead of November’s congressional elections. However, Trump also faced pressure from members of his own party who insist that Iran’s nuclear program must be completely shut down.
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