Overview
- A 14‑point memorandum signed by Presidents Donald Trump and Masoud Pezeshkian has taken effect, and U.S. Central Command said it lifted its naval blockade so commercial tankers can resume passage through the Strait of Hormuz.
- The agreement starts a 60‑day technical window under expected IAEA oversight to negotiate Iran’s enriched‑uranium stockpile, sanctions relief and frozen assets, but planned implementation talks in Switzerland have not been finalised and the U.S. delegation’s travel has been delayed.
- Iran’s Supreme Leader Mojtaba Khamenei authorised the deal despite reservations after senior officials promised the pact would protect Iran’s interests and warned Tehran would reject excessive U.S. demands.
- U.S. officials said maritime flows surged and Vice‑President J.D. Vance reported about 12.5 million barrels transited the strait, helping push oil and gasoline prices lower as markets reacted to restored exports.
- The truce remains fragile because core verification and financial mechanics are unsettled, Israeli strikes in Lebanon continue to test the ceasefire, and political critics in Tehran, Jerusalem and Washington raise the risk of a rapid breakdown.