Iran and US Finalize Draft Memorandum of Understanding as Signing Ceremony Set for June 19 in Geneva
GENEVA — June 15, 2026 — Iran and the United States have finalized a draft memorandum of understanding that would end the war between the two nations and reopen the strategic Strait of Hormuz, with a formal signing ceremony scheduled for Friday, June 19, in Geneva, officials from both countries confirmed on Monday.
The development marks a potential turning point in the conflict that erupted on February 28, when the United States and Israel launched joint strikes on Iran, triggering weeks of retaliatory attacks and disrupting global energy markets through Iran’s effective closure of the Strait of Hormuz, through which approximately 20 percent of the world’s oil normally passes.
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US Confirms Deal Complete, Orders Hormuz Reopened
US President Donald Trump announced on Sunday, June 14, that the deal with Iran was complete and ordered the “toll free opening” of the Strait of Hormuz along with the “immediate removal” of the US naval blockade.
“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!” Trump wrote on his Truth Social platform. “Ships of the World, start your engines. Let the oil flow!”
Trump described the agreement as a major diplomatic achievement, writing in a separate post that the “Great Deal” would “bring Peace and Security to the whole Region.” He added: “Many presidents have tried to make Peace with Iran, and all have failed before me.”
The White House confirmed that the formal signing ceremony would take place in Switzerland on Friday, June 19, with the text of the memorandum to be made public after the official signing .
Iran Confirms Finalization, Sets Conditions for Implementation
Iran’s Deputy Foreign Minister for Legal and International Affairs Kazem Gharibabadi confirmed early Monday that the memorandum of understanding has been finalized and will be signed in Geneva on Friday. The end of the US naval blockade against Iran would begin Sunday night US time, he said .
Gharibabadi described the memorandum as the result not only of diplomacy but also of Iran’s military achievements during the conflict. “The enemy that launched the attack failed in all of its malicious objectives, and the Islamic Republic achieved major victories in the war,” he said, according to remarks carried by Iran’s semi-official Mehr News Agency .
However, Gharibabadi also made clear that Iran’s entry into the next phase of negotiations would be conditional on US compliance. “Entering into 60 days of negotiations is conditional upon the fulfillment of these commitments by the United States,” he said .
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“This memorandum of understanding does not mean trusting the enemy,” Gharibabadi said, according to Al Jazeera. “We will monitor the implementation of US commitments” .
Key Provisions of the 14-Point Draft Memorandum
Iranian media, including the semi-official Mehr News Agency, have published details of the 14-point draft memorandum obtained from sources close to Iranian negotiators. The key provisions include :
End of Hostilities: The memorandum calls for an immediate and permanent cessation of war on all fronts, including Lebanon. The opposing side, including Israel, would commit not to initiate any new wars or military operations . For the first time in history, Iran has compelled the US to provide guarantees on behalf of Israel, closing a loophole that had previously allowed Washington to sign agreements while Israel remained outside them .
Strait of Hormuz: Iran has committed to reopening the Strait of Hormuz within 30 days under Iranian arrangements. The United States, for its part, has committed to lifting its naval blockade on Iranian ports, with the lifting to begin immediately upon signing of the memorandum and be completed within 30 days .
US Naval Blockade: The memorandum requires the complete lifting of the US naval blockade on Iran within 30 days of the agreement being signed, with shipping activity to be restored to the level that existed before the blockade was imposed .
US Military Withdrawal: The agreement requires US forces to withdraw from areas surrounding Iran within 30 days .
Frozen Assets: The memorandum provides for the release of up to 24billionto25 billion of Iran’s frozen assets. Of this amount, $12 billion is to be released before final negotiations begin, with the remainder released during the 60-day negotiating period .
Reconstruction Fund: The United States and its allies would be required to present plans for rebuilding Iran worth at least $300 billion, to be negotiated and agreed with Tehran within 60 days . While the term “compensation” is not explicitly mentioned, Iranian negotiators view this as addressing damage inflicted on Iran during the war .
Sanctions Relief: The memorandum includes US commitments to waive oil sanctions on Iran for a specified period, allowing Tehran to sell oil and receive revenue, and not to impose new sanctions on Iran until a final deal is reached. Following a final agreement, all US and UN sanctions on Iran would be lifted according to an agreed timetable .
Nuclear Commitments: Iran has agreed that it will neither produce nor acquire nuclear weapons. Pending a final agreement, Iran would maintain the current status of its nuclear program, refraining from further uranium enrichment and expansion of nuclear facilities. The United States has agreed to allow Iran to dilute its stockpile of highly enriched uranium on Iranian soil under a future comprehensive agreement .
Notably, discussions regarding Iran’s missile program and its support for “resistance groups” have been explicitly excluded from the negotiation agenda .
Two-Phase Negotiation Structure: The memorandum establishes a 60-day negotiating period following the signing, during which the parties would work toward a final agreement covering Iran’s nuclear program, uranium enrichment activities, and mechanisms for handling its highly enriched uranium stockpile .
Iranian Domestic Review Underway
Despite the apparent progress at the diplomatic level, Iran has indicated that a final domestic decision on signing the memorandum has not yet been made. According to Iran’s semi-official Fars news agency, the political, legal, and technical dimensions of the proposals are still under careful review by the country’s experts and decision-makers .
A Qatari delegation traveled to Tehran over the weekend for consultations with Iranian officials and to review the latest developments pertaining to the diplomatic process .
Israel’s Position and Concerns
The announcements of the impending deal have left Israel deeply concerned, with officials warning that the terms of the memorandum endanger Israel’s security interests and fail to address key issues in the conflict.
Prime Minister Benjamin Netanyahu, who played no direct role in the negotiations, convened his security cabinet on Sunday evening to discuss the agreement. Senior Israeli officials quoted by Channel 12 lamented that the main issues that Israel was hoping to resolve in the war remained unaddressed, noting that “the uranium extraction has become uranium dilution and the missile system is not part of the agreement at all” .
Pakistani and Qatari Mediation Role
The agreement follows weeks of intensive mediation by Pakistan, whose Prime Minister Shehbaz Sharif announced on Saturday that the peace deal between the United States and Iran was expected to be finalized within the next 24 hours.
Sharif later confirmed that the signing ceremony would take place in Switzerland on June 19. Qatar has also played a role in the diplomatic efforts, with a Qatari delegation traveling to Tehran for consultations as the negotiations entered their final stages .
Next Steps
The memorandum is expected to be signed in Geneva, Switzerland, on June 19. US Air Force planes have reportedly departed to Europe to prepare for possible travel by Vice President JD Vance to attend the signing ceremony .
Following the signing, the parties would enter a 60-day negotiating period aimed at reaching a final comprehensive agreement on Iran’s nuclear program and the complete lifting of sanctions. The final agreement would be implemented through a UN Security Council resolution .
As of Monday, June 15, Iranian officials continued their domestic review of the draft text, with a final decision on signing expected later this week. The full text of the memorandum is scheduled to be made public after the official signing ceremony in Geneva .
SOURCES / INPUTS
- The Standard (HK): Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release
- China Daily: Iran has not decided on proposed MoU with US
- The Statesman: Trump says US-Iran deal is complete; signing set for June 19, Tehran links next talks to US commitments
- Anadolu Ajansı: Iran says memorandum of understanding finalized as US naval blockade set to end
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