Trump Signs Historic Memorandum in Versailles as Tehran Agrees to Reopen the Strait of Hormuz and Scale Back Nuclear Activities Amid Ongoing Negotiations
The United States and Iran signed a memorandum of understanding on June 17 aimed at ending a conflict that has lasted nearly four months, according to a U.S. official who spoke with The Epoch Times.
The agreement, which includes the reopening of the Strait of Hormuz, a commitment by Tehran to halt its nuclear weapons program, and the prospect of future economic relief contingent upon Iran meeting U.S. requirements, officially took effect after President Donald Trump signed the document while attending the annual G7 Leaders’ Summit in Versailles.
Key details of the interim agreement were disclosed by a senior U.S. official during a briefing with reporters on Wednesday.
Under the terms of the memorandum, Iran will immediately reopen the Strait of Hormuz without imposing tolls during a 60-day negotiation period. Tehran has also agreed, at a minimum, to reduce its stockpile of enriched uranium.
Should Iran respond positively throughout the negotiation process, the agreement provides a pathway for economic assistance from regional partners through a proposed $300 billion reconstruction fund intended to address war-related damages.
A U.S. official stated that Washington will not directly finance the fund but will assist in its development while offering sanctions relief if Iran complies with the agreement. Such relief could include projects financed by neighboring countries, including the possibility of the United Arab Emirates constructing a power plant in Iran.
The memorandum also permits Iran to sell its oil without restrictions, while the 60-day period will be used to negotiate the future of the country’s nuclear program.
According to a senior U.S. official, once all parties have signed and ratified the memorandum, the United States will begin lifting its naval blockade around Iran.
The final phase of the agreement will not be implemented until the conclusion of the 60-day negotiation period. The United States has also committed to providing any necessary licenses, waivers, or authorizations required for related financial transactions.
Deputy Chief of Staff Dan Scavino shared a video on X showing Trump signing the agreement in Versailles, with French President Emmanuel Macron seated directly to his left. The signing was followed by applause.
“Good job, great job,” Macron was heard saying.
Trump then handed the signed document to Secretary of State Marco Rubio before shaking hands with Macron as additional applause followed.
“It’s signed,” Trump said while departing Versailles. “I signed it in Versailles. ... Just signed it.”
Pakistani President Shehbaz Sharif, who played a significant role in facilitating talks between Washington and Tehran, also confirmed the signing in a post on X, describing it as evidence of both sides’ commitment to resolving the conflict through diplomacy.
“I offer my heartfelt congratulations and sincere appreciation to the President of the United States, Donald J. Trump, whose steadfast commitment to diplomacy and preference for peaceful resolution have once again helped end a conflict that could have led to devastating consequences for the region and beyond,” Sharif wrote.
Sharif also praised Vice President JD Vance, Special Envoy to the Middle East Steve Witkoff, and Special Envoy for Peace Jared Kushner for their “invaluable contributions” to the negotiations.
In addition, the Pakistani leader expressed appreciation to Iranian Supreme Leader Seyyed Mojtaba Hosseini Khamenei and President Masoud Pezeshkian for their “wisdom, foresight and statesmanship in embracing the cause of peace,” while also commending the broader Iranian negotiating team for their “patience, perseverance and commitment to constructive engagement.”
Sharif further acknowledged the contributions of Qatar, Saudi Arabia, Turkey, and Egypt in supporting the agreement.
“May this Memorandum of Understanding serve as an enduring foundation for greater understanding, mutual respect and shared prosperity for the complete region,” Sharif said.
Qatar, serving as co-mediator, will host a formal ceremony in Switzerland on Friday to mark the signing and launch what Sharif described as “the technical level talks.”
Earlier on Wednesday, speaking at the annual G7 Summit, Trump said the memorandum was expected to be signed by Thursday or Friday and noted that Iran had “been acting very appropriately.”
