Trump and Pezeshkian sign digital MoU to halt US-Iran war, lift naval blockade and resume oil exports

Electronic signing bypasses Geneva ceremony

The 14-point memorandum was initialed digitally by the two presidents on 17 June, making a planned Friday ceremony in Switzerland unnecessary. Iranian foreign ministry spokesman Esmaeil Baghaei confirmed the document had been signed electronically by both sides.

The agreement has now been officially signed by both sides electronically.

Two US officials confirmed the signing to Axios's Barak Ravid. The signing came hours after Tehran said it was considering having presidents sign instead of Vice President J.D. Vance and Iranian parliament speaker Mohammad Bagher Ghalibaf.

Ceasefire terms and 60-day negotiation window

The memorandum orders an immediate and permanent halt to military operations on all fronts, including Lebanon, and commits both sides to mutual respect for sovereignty and non-interference. Washington and Tehran are to negotiate a final agreement within 60 days, extendable by mutual consent. Upon signing, the US will begin lifting the naval blockade and all other restrictions against Iran.

Oil sanctions lifted, economic lifeline for Iran

The MoU allows Iran to resume oil exports immediately, unfreezing assets and providing sanctions waivers for banking, shipping and insurance. Jorge Leon, head of geopolitical analysis at Rystad, estimated Iran could export around 2 million barrels per day, about a third more than its pre-war level. Because sales will be legal and sanction-free, Iran will no longer need deep discounts to attract buyers.

This looks like a pretty good deal for Iran.

About 50% of the Iranian regime's revenue comes from oil sales, according to the US Energy Information Administration. The deal effectively restores Tehran's primary income stream after months of naval blockade had halted all exports from the Persian Gulf.

Hormuz shipping to restart under Iran-Oman control

Iran and Oman will jointly design a management mechanism for the Strait of Hormuz and consult with regional countries as needed. Naval traffic is to return to pre-war levels within a specified timeframe, and Iran retains exclusive responsibility for implementation.

Iran and Oman will develop a management mechanism for the Strait of Hormuz and will cooperate and consult with other regional countries where necessary.

From Friday ceremony to digital ink

Initially the signing was to take place in Geneva or Brussels on Friday with Vice President Vance and Speaker Ghalibaf. By Tuesday afternoon, Tehran confirmed it was examining a plan for presidents to sign, and by evening the two leaders had affixed digital signatures, cancelling the ceremony. Diplomats told Axios that mediator countries had discussed an even earlier digital signature option.