▲ U.S. President Donald Trump addresses the media during a closing press conference at the G7 summit in Evian, France, on June 17, 2026, in this photo released by AFP. (Yonhap)

US-Iran-deal text

U.S. releases Iran MOU text, including 60 days of no-charge Hormuz transit

By Song Sang-ho

WASHINGTON, June 17 (Yonhap) -- U.S. President Donald Trump's administration on Wednesday unveiled the text of a signed memorandum of understanding (MOU) aimed at ending the Iran war, which includes safe passage through the Strait of Hormuz with no charge for 60 days.

In a press call, a senior U.S. official read out the text of the 14-point MOU in the administration's first public disclosure of the deal. President Donald Trump, Vice President JD Vance and Iran's parliamentary speaker Mohammad Bagher Ghalibaf have electronically signed it, with an official signing ceremony set for later this week.

The MOU includes the declaration of an "immediate and permanent" end to military operations "on all fronts," a commitment to negotiating a final deal in 60 days extendable with mutual consent, and Iran's reaffirmation that it will not procure or develop nuclear weapons.

It also includes the United States' commitment to work with regional partners to develop a "definitive" mutually agreed-upon plan with at least US$300 billion for the reconstruction and economic development of the war-damaged Islamic Republic.

The framework deal followed grueling negotiations between Washington and Tehran to end their war that began with the U.S.-Israeli attack on Iran on Feb. 28. The Trump administration sought an exit from the unpopular conflict that pushed up oil prices and stoked fears of higher inflation ahead of the U.S. midterm elections set for November.

"The United States of America and the Islamic Republic of Iran and their allies in the current war are signing this MOU to declare the immediate and permanent termination of military operations on all fronts, including in Lebanon," Paragraph 1 of the MOU reads.

The two sides will also commit not to initiate any war or military operation against each other and refrain from the threat and use of force against each other.

Paragraph 2 concerns their pledge to respect each other's sovereignty and territorial integrity, while Paragraph 3 commits the two countries to negotiating and achieving the final peace deal in 60 days, extendable with mutual consent.

The fourth and fifth paragraphs are about the Strait of Hormuz.

Under Paragraph 4, the U.S. will begin the removal of its naval blockade and any disturbances or impediments against Iran, and will fully end the naval blockade within 30 days, upon the signing of the document.

The fifth paragraph states that upon its signing, Iran will make arrangements using its best efforts for the safe passage of commercial vessels "with no charge" "for 60 days only," from the Persian Gulf to the Sea of Oman and vice versa.

"The traffic of commercial vessels will immediately start, and considering the need for removing the technical and military obstacles, and demining by the Islamic Republic of Iran will be instated within 30 days," it says.

It notes that Iran and Oman will conduct dialogue to define the future administration and maritime services in the Strait of Hormuz in discussion with other Persian Gulf littoral states in line with applicable international law and the sovereign rights of the coastal states of the strait.

Iranian state media have claimed that the MOU stipulates that after the 60-day period, Iran and Oman will manage the crucial waterway, which was responsible for about a fifth of the world's oil supply before the Iran war broke out.

The sixth paragraph lays out the $300 billion funding plan for Iran.

"The mechanism for the implementation of this plan will be finalized as part of a final deal within 60 days," the paragraph says. "All required licenses, waivers and permissions needed for the relevant financial transactions will be granted by the United States of America."

According to the following paragraph, the U.S. commits to terminate all types of sanctions against Iran, including U.N. Security Council resolutions, in an agreed-upon schedule as part of the countries' final deal.

In the eighth paragraph, Tehran reaffirms that it will not seek nuclear weapons.

It also states that the two countries have agreed to resolve the disposition of stockpiled enriched nuclear material in accordance with a mechanism that will be mutually agreed upon, with the minimum methodology to be down blended on site under the supervision of the International Atomic Energy Agency.

Paragraph 10 concerns the U.S. Treasury Department's plans to issue sanctions waivers for the export of Iranian crude oil, petroleum products and derivatives, and all associated services, including banking transactions, insurance and transportation, upon the MOU signing and until the termination of the sanctions.

Under the following paragraph, the U.S. undertakes to make "fully available" for use Iran's frozen or restricted funds upon the implementation of the MOU, while other paragraphs include agreements to establish a mechanism to monitor the MOU implementation and future compliance with the final deal.

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