US, Iran sign initial peace deal: The 14 key points you need to know

VERSAILLES/TEHRAN – 18 June 2026: The presidents of the United States and Iran signed an initial peace agreement overnight aimed at ending the war between the two countries, allowing the deal to take immediate effect while negotiations continue on a comprehensive final settlement.

The memorandum provides for the "immediate and permanent termination of military operations" on all fronts, including in Lebanon, and outlines a framework for addressing Iran's nuclear program, reopening shipping through the Strait of Hormuz, and lifting sanctions on Tehran.

Key provisions of the memorandum include:

1- The US and Iran agree to the "immediate and permanent termination of military operations on all fronts, including in Lebanon" and undertake "not to initiate any war or any military operation against each other."

2- Both sides undertake to "respect each other's sovereignty and territorial integrity" and “refrain from interfering in each other's internal affairs.”

3- The parties commit to negotiating and achieving a final deal within maximum 60 days, subject to extension by mutual consent.

4- The US will begin removing its naval blockade on Iran “immediately upon the signing of this MoU” and “fully end” it within 30 days, while later removing its forces from the proximity of Iran following a final deal during this period.

5- Iran will use its "best efforts" to ensure the safe passage of commercial vessels “with no charge, for 60 days only” through the Strait of Hormuz and will consult Oman and other Gulf states on future maritime arrangements.

6- The US undertakes, together “with regional partners,” to develop a reconstruction and economic development “plan” for Iran worth at least $300 billion.

7- The US commits to terminating "all types of sanctions" against Iran, including UN Security Council resolutions, IAEA Board of Governors resolutions, and US primary and secondary sanctions.

8- Iran "reaffirms that it shall not procure or develop nuclear weapons." The two sides also agreed to discuss "the issue of enrichment" and other matters related to Iran's nuclear needs.

9- Pending a final agreement, Iran will maintain the "current status quo" of its nuclear program, while the US will not impose "any new sanctions" or deploy additional forces in the region.

10- The US will issue waivers for the export of Iranian crude oil, petroleum products and derivatives, as well as related banking, insurance and transportation services.

11- The US undertakes to make Iran's frozen or restricted funds and assets “fully available for use” and to issue all necessary licenses and authorizations.

12- The two sides agree that an executive mechanism will be established to monitor implementation of the memorandum and compliance with any future final agreement.

13- Negotiations on a final agreement will begin after implementation starts on key provisions, including the ceasefire, maritime measures, oil-export waivers and release of frozen funds.

14- The final agreement will be endorsed by a "binding UNSC resolution."