U.S. President Donald Trump clarified the terms of a newly signed memorandum of understanding (MOU) with Iran during his closing press conference at the G7 summit in Évian-les-Bains, France, on June 17. The clarification came after widespread speculation triggered by a leaked draft of the agreement a day earlier, prompting both Iranian and Israeli officials to issue competing interpretations.
According to officials, the Trump administration and Iran have agreed to enter a 60-day negotiation period aimed at reaching a final peace agreement and resolving Iran’s nuclear-related issues. During this period, maritime traffic through the Strait of Hormuz will reportedly be guaranteed free passage, while Iran will begin downblending its stockpile of highly enriched uranium under international supervision.
The MOU also outlines immediate economic adjustments, including allowing Iran to resume limited oil exports alongside petrochemical products, banking services, and transportation support. U.S. officials defended the move, arguing that continued sanctions have become ineffective and contribute to discounted oil sales to third-party buyers such as China, while potentially lowering global energy prices.
A central condition of the agreement is Iran’s commitment not to pursue nuclear weapons, with verification conducted by the International Atomic Energy Agency. However, the final status of Iran’s uranium enrichment capabilities for civilian energy use remains unresolved and will be part of the upcoming negotiations. Trump also warned that failure to comply within the 60-day window could result in renewed military action.
The memorandum further includes provisions for potential sanctions relief, unfreezing Iranian assets, and discussions around a proposed $300 billion reconstruction and development fund contingent on compliance with the deal. It also outlines a gradual reduction of U.S. military presence in the region, depending on Iran’s adherence to the agreement, with Trump emphasizing that all measures remain reversible if conditions are not met.
