The United States and Iran have electronically signed a memorandum intended to halt the war and launch 60 days of talks toward a final agreement. The document includes sanctions relief, nuclear commitments, Strait of Hormuz provisions and a proposed $300 billion reconstruction plan for Iran.
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Trump said the U.S.-Iran memorandum is not a final deal and warned bombing could resume if a broader agreement is not reached. The 14-point framework calls for a ceasefire, reopening the Strait of Hormuz, nuclear limits, sanctions relief and further talks within 60 days.
Brent crude fell to its lowest level since early March as markets anticipated a US-Iran framework agreement that could reopen the Strait of Hormuz. Shipping groups and analysts warned that restoring normal energy flows could still take weeks or months.
Israeli strikes in southern Lebanon continued after President Donald Trump urged Benjamin Netanyahu to be more restrained. The attacks have added pressure to an undisclosed US-Iran agreement that mediator Pakistan says includes Lebanon.
Iranian oil tankers have crossed a U.S. blockade line near the Strait of Hormuz ahead of planned U.S.-Iran talks in Switzerland. The emerging memorandum has triggered disputes over sanctions relief, Lebanon and the future of Iran’s nuclear program.