Iran deal: Trump is back to square one, but the cards are now in Tehran’s favor
Summary
The United States and Iran signed the Islamabad Memorandum of Understanding (MoU) to stop fighting for 60 days and work toward a final peace deal. This agreement reopened the Strait of Hormuz, a key waterway for global oil, which Iran had previously threatened to close during recent conflicts.Key Facts
- The Islamabad MoU was announced on June 14, 2026, President Donald Trump’s 80th birthday.
- The deal marks a pause in fighting between the US and Iran after a three-month war.
- It includes reopening the Strait of Hormuz, which carries 20% of the world’s oil and natural gas.
- Iran had discovered it could disrupt the global economy by blocking this waterway.
- The deal is described as a 60-day ceasefire period to negotiate a long-term peace agreement.
- Details of the agreement are planned to be released after Friday following the announcement.
- US Vice President JD Vance said the goal is to keep the strait open without tolls for the long term.
- Israeli strikes in Beirut earlier on the same day complicated the start of negotiations.
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