In a stunning diplomatic pivot, President Trump, Vice President Vance, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf electronically signed a Memorandum of Understanding on June 15. The agreement immediately de-escalates decades of hostility.
A formal signing ceremony is set for June 20, with Trump expecting the full deal to be completed within 60 days.
The MoU lifts the US naval blockade on Iranian ports and reopens the Strait of Hormuz for toll-free shipping. It also establishes a 60-day window to curb Iran’s nuclear program, echoing the 2015 JCPOA structure that Trump previously abandoned in 2018.
This breakthrough arrives just ahead of the G7 summit, allowing the US to reframe the narrative from military tension to negotiation.
For markets, the reopening of the Strait of Hormuz could stabilize global oil prices. However, analysts warn of volatility: crude may dip on expected supply increases, but a collapse in nuclear talks could instantly reverse those gains.