Iranian President Masoud Pezeshkian described a memorandum of understanding with the US as a potential "document of pride" for Iran, following its electronic signing by both nations' leaders. Formal signing is set for Friday in Geneva.
This agreement represents a significant de-escalation in US-Iran tensions, potentially impacting global oil flows through the Strait of Hormuz and regional security dynamics.
Iranian President Masoud Pezeshkian has described the memorandum of understanding (MoU) reached between Tehran and Washington as a potential "document of pride" for Iran, praising the sustained diplomatic effort that produced it. Both sides acknowledge that harder negotiations lie ahead.
Pezeshkian thanked Majlis Speaker Mohammad Baqer Qalibaf, Foreign Minister Abbas Araghchi, members of the Shura Council, and Supreme Leader Ali Khamenei for their roles in shaping the agreement. He noted that nearly all members of the Majlis backed the text to test America's resolve.
The MoU, which has not yet been formally released, extends the current US-Iran ceasefire by 60 days and creates a framework for subsequent negotiations over Iran's nuclear program, sanctions, and regional security. A senior US administration official confirmed the MoU provides for the immediate opening of the Strait of Hormuz, through which nearly one-fifth of the world's oil and liquefied natural gas flows, alongside the lifting of the US naval blockade on Iranian ports.
Both sides have already digitally signed the document. Iran's deputy foreign minister Kazem Gharibabadi confirmed the text had been finalised and would be formally signed Friday in Geneva, Switzerland. Switzerland, along with Pakistan and Qatar, is coordinating the signing process.
US Vice President JD Vance stated that no sanctions relief would be granted automatically and would require verifiable Iranian actions. Iran's deputy foreign minister, however, said nuclear negotiations could only begin if the US first releases billions in frozen Iranian funds, a claim US officials rejected. Questions also remain over Israel's role, with Iran stating a ceasefire in Lebanon is included, while Israel's defence minister indicated no plan to withdraw forces from southern Lebanon.