Key facts
- President Trump announced a settlement to end the war with Iran, potentially to be signed this weekend.
- Reports of the memorandum's terms, shared by various sources, suggest significant concessions from the U.S. to Iran.
- Key terms reportedly include unfrozen Iranian assets, waived sanctions, and deferred discussions on Iran's nuclear program.
- Trump disputed the accuracy of leaked reports, stating the terms were "NOTHING to do with the terms that were agreed to."
- Israel has stated it is not a party to the proposed memorandum.
- Tensions remain high around the Strait of Hormuz, with U.S. forces downing Iranian drones and Iran stopping a tanker.
President Donald Trump announced on Thursday that a settlement had been reached to end the war with Iran, with a potential signing ceremony anticipated over the weekend. Trump stated that the Strait of Hormuz would reopen immediately upon signing, and that U.S. Vice President JD Vance would attend the ceremony. He also indicated that Iran's Supreme Leader had approved the deal.
However, reports of the memorandum's terms, circulated by Western, Pakistani, and Iranian sources, suggest significant concessions from the U.S., including billions in unfrozen assets and waived sanctions on oil exports, in exchange for Iran lifting its blockade of the Strait of Hormuz. Discussions regarding Iran's nuclear program and missile capabilities would be deferred for 60 days.
Trump publicly disputed these leaked terms, posting on social media that they had "NOTHING to do with the terms that were agreed to, in writing," and called the Iranians "Very dishonorable people to deal with." Despite the U.S. president's claims, the reported terms largely align with proposals Tehran made two months prior, which Washington had previously rejected.
Israel has stated it is not a party to the memorandum, with Prime Minister Benjamin Netanyahu having clashed with Trump over U.S. demands for Israel to curb military action in Lebanon. The conflict has escalated recently, with Israel and Iran trading fire and the U.S. launching strikes on Iran, prompting return fire on U.S. bases.
U.S. forces reported shooting down two Iranian drones near the Strait of Hormuz after an attempted strike on commercial ships, and Iran's military reportedly stopped a tanker transiting the strait. Trump had previously abandoned the 2015 nuclear deal in 2018, leading Iran to increase its uranium enrichment.