Overview
- The two sides announced a 14‑point memorandum of understanding and set a formal signing in Geneva for Friday, with President Trump authorising an immediate lifting of the US naval blockade to allow Strait of Hormuz shipping to resume.
- The framework calls for toll‑free passage through the strait and phased mine clearance that could restore prewar traffic within about 30 days, and global oil prices fell roughly 4–5 percent after the announcement.
- Core nuclear questions were deferred to a time‑bound technical period of roughly 60 days involving the IAEA to verify Iran’s enriched‑uranium stockpile and negotiate limits and monitoring arrangements.
- The agreement contemplates release of frozen Iranian assets and temporary sanctions relief but reported figures vary widely, commonly cited between $12 billion and $24 billion, and precise terms remain unresolved.
- Implementation risks are immediate because Israel is not party to the pact and has said it will keep forces in Lebanon, hardline protests have erupted in Iran, and some US intelligence and officials have voiced doubts about Tehran’s compliance.