The memorandum, co-signed by VP JD
Vance and Iran's parliament speaker Mohammad Bagher Qalibaf, includes an
immediate ceasefire, lifting the U.S. naval blockade, reopening the Strait of
Hormuz toll-free, waivers for Iranian oil sales, and release of $24 billion in
frozen assets over 60 days of nuclear talks.
Vance called it probation for Iran: abandon
nuclear ambitions and destabilizing actions for a chance at economic
reintegration.
Trump stressed it's not final, contrasting it with the Obama-era deal, while markets rallied with plunging oil prices and leaders like Egypt's el-Sisi praised the peace move—though U.S. officials report Iranian drone incidents and leaks spark disputes.