Trump Signs 14-Point MOU Extending US-Iran Ceasefire

Energy markets and shipping lanes stand to shift after President Donald Trump and Iranian President Masoud Pezeshkian electronically signed a 14-point memorandum of understanding that extends an existing ceasefire for 60 days and commits both sides to reopen the Strait of Hormuz. The agreement, reached after nearly four months of conflict that began with US and Israeli strikes on Iran on February 28, suspends most active fighting that had already paused on April 8. Pakistan, which mediated the talks, announced the Islamabad MOU took effect immediately.

The document requires Iran to keep the strait open without fees for the initial 60-day period and reaffirms Tehran’s pledge not to develop nuclear weapons. In return the United States will lift its naval blockade and waive sanctions on Iranian oil exports. Further talks on Iran’s nuclear program, sanctions relief, and release of frozen assets are scheduled during the 60-day window, which can be extended by mutual consent. The memorandum does not address Iran’s ballistic missile program or its support for regional proxies.

Republican lawmakers voiced immediate objections. Senators Bill Cassidy, Ted Cruz, and former UN ambassador Nikki Haley criticized the terms as overly generous to Iran and compared elements to the 2015 nuclear accord Trump had withdrawn from in 2018. Former vice president Mike Pence described the framework as resembling appeasement. Senator Roger Marshall offered support, calling the memorandum an improvement over the prior deal. White House officials defended the outcome as performance-based and tied to lower energy prices.

Iran’s Foreign Ministry said it would monitor US compliance strictly and keep its missile program off the negotiating table. IAEA director-general Rafael Grossi welcomed the memorandum and said technical work on verification would begin. France, China, and Russia issued statements supporting continued diplomacy. Hezbollah leader Naim Qassem called the agreement a victory for Iran and insisted Lebanese talks with Israel focus only on mutual security.

Trump signed the document at the Palace of Versailles during the G7 summit and later posted on Truth Social that critics were “jealous, bad people, or stupid” given record stock prices and falling oil prices. The price of Brent crude fell to $77 per barrel after the announcement. Shipping companies noted that mines laid during the conflict and the presence of stranded vessels could delay full resumption of traffic for weeks even after formal reopening.