WASHINGTON and TEHRAN — The United States and the Islamic Republic of Iran jointly released the full text of a landmark Memorandum of Understanding on June 18, 2026, outlining a framework to permanently end military hostilities across all fronts and resolve long-standing economic and nuclear disputes. The 14-point document, published by The Hindu, commits both nations to an immediate and permanent ceasefire, including in Lebanon, and a pledge to refrain from any threat or use of force against one another.

The MOU mandates the rapid dismantling of the U.S. naval blockade within 30 days, while Iran guarantees safe, charge-free passage for commercial vessels through the Strait of Hormuz for an initial 60-day period. Iran will coordinate with Oman to define the future maritime administration of the strategic waterway. In parallel, the United States commits to terminating all unilateral and multilateral sanctions against Tehran under an agreed schedule, immediately issuing Treasury Department waivers for Iranian crude oil exports and associated financial services.

On the nuclear file, Iran reaffirms it will not seek or develop nuclear weapons and agrees to down-blend its stockpiled enriched uranium on-site under International Atomic Energy Agency supervision. The two parties will negotiate a final, comprehensive accord within 60 days, extendable by mutual consent, addressing the full disposition of enriched material and Iran’s civilian nuclear needs. Pending that final deal, Iran will maintain its current nuclear status quo while Washington refrains from imposing new sanctions or deploying additional regional forces.

The economic pillar of the agreement envisions a massive reconstruction initiative, with the United States and regional partners developing a plan worth at least $300 billion for Iran’s economic development. All frozen Iranian funds and assets will be made fully available for use, with Washington issuing the necessary licenses. The final deal is to be endorsed by a binding United Nations Security Council resolution, cementing the commitments under international law. For the Global South, the accord signals a potential easing of tensions that have long disrupted energy markets, threatened shipping lanes, and strained diplomatic relations across the Middle East.