Overview
- Both presidents electronically signed the 14‑point memorandum that negotiators say took effect immediately, with President Trump adding a physical signature at Versailles on Wednesday.
- The agreement lifts the U.S. naval blockade, reopens the Strait of Hormuz toll‑free for an initial 60 days, and prompted oil prices to fall below $80 a barrel in early trading.
- A 60‑day technical phase under IAEA oversight begins to address Iran’s enriched‑uranium stockpile and down‑blending, but the text defers detailed verification, sequencing and custody arrangements.
- The deal ties phased sanctions waivers and the possible unfreezing of Iranian assets to verified Iranian steps and outlines a proposed $300 billion reconstruction framework that Washington says it will not directly fund.
- Implementation risks are high because Israel and many U.S. critics say the pact favors Tehran, limited Israeli operations in southern Lebanon continue, and negotiators will meet in Switzerland to try to convert the MoU into a durable, verifiable accord.