Trump and Iran sign memorandum of understanding; agreement takes effect immediately

The United States and Iran have entered into an agreement, signing a memorandum of understanding (MOU) that has taken immediate effect, according to reports.

President Donald Trump officially signed a copy of the accord during a dinner at the Palace of Versailles, following the G7 summit. This followed an earlier virtual signing by Trump and Vice President JD Vance. Iranian Foreign Ministry spokesperson Esmaeil Baghaei confirmed the digital signing by both presidents, as reported by Iranian state broadcaster Press TV.

The specifics of the MOU suggest Iran will dilute its enriched uranium, while the U.S. will support reconstruction funds. A key objective appears to be ensuring safe passage through the Strait of Hormuz. A diplomatic source indicated that talks aimed to accelerate the timeline to open the strait before Friday, with both parties in agreement on this point.

However, conflicting reports emerged regarding the signing process. One diplomatic source denied to Axios that a physical signing had occurred, while another source close to the matter confirmed a "second signature" had taken place, though the reason for two signatures remains unclear. The U.S. has yet to publish a copy of the MOU online.

Iran has reiterated its intention to charge tolls for vessels transiting the Strait of Hormuz after a 60-day period stipulated in the agreement. Negotiator Mohamad Baqer Qalibaf stated on state television, "Iran has sovereignty over Hormuz and, of course, we will charge a toll for these services."

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Iran has sovereignty over Hormuz and, of course, we will charge a toll for these services.