US, Iran sign preliminary ceasefire agreement

President Donald Trump announced that the United States and Iran have signed a preliminary agreement to end the conflict in the Gulf. The deal extends a fragile ceasefire by 60 days and aims to reopen the Strait of Hormuz, a crucial waterway for global oil trade that Iran had effectively blocked.

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The deal’s all signed.

Details of the agreement are still emerging, with Vice President JD Vance describing the memorandum of understanding as a broad, one-and-a-half-page framework document. He indicated that specifics would be worked out during further negotiations. The deal reportedly includes a significant sanctions relief package for Iran, potentially leading to the unfreezing of foreign assets and the establishment of a $300 billion reconstruction fund financed by neighboring Gulf states.

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The memorandum of understanding is only about one-and-a-half pages long and remained a broad framework document.

Iranian President Masoud Pezeshkian called the agreement an "important step" toward ending the fighting but cautioned that a final truce "has yet to take shape." Meanwhile, Israeli Prime Minister Benjamin Netanyahu acknowledged differences with Trump, stating Israel would maintain its military presence in southern Lebanon and the right to respond to attacks. Fighting in Lebanon has subsided but not entirely ended, with reports of an Israeli drone strike killing a driver in southern Lebanon.

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It is a very general document.