US and Iran sign MOU aimed at ending war and to reopen Strait of Hormuz

The US and Iran have signed a memorandum of understanding aimed at ending their war, with both US President Donald Trump and Iranian President Masoud Pezeshkian confirming the electronic agreement. The deal includes a 60-day negotiating window for a final agreement, during which Iran must commit to never developing a nuclear weapon. In return, the US would lift economic sanctions, unfreeze Iranian assets, and establish a US$300 billion reconstruction fund. The agreement also guarantees safe passage through the Strait of Hormuz.

Professor Jamsheed Choksy of Indiana University analyses the deal's implications, noting questions around fund allocation, Iran's reintegration into global banking, congressional hurdles, and whether Iran will use economic relief constructively or to fund regional proxies.

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