US and Iran confirm finalized Memorandum of Understanding, paving way for formal signing and potential Strait of Hormuz reopening.
President Trump described the Iran nuclear deal as a “fair, good deal” and said it should be successful, following the finalization of a Memorandum of Understanding (MoU) between the US and Iran. The agreement, awaiting a formal ceremony in Geneva, marks the start of an implementation phase focused on verification, sanctions relief, and nuclear infrastructure details over the next 60 days.
The MoU resolves broad political framework issues but leaves technical details, such as uranium stockpiles and inspection mechanisms, unresolved. Markets are closely watching the potential reopening of the Strait of Hormuz, a critical chokepoint for global oil shipments, which could ease supply concerns.
Trump emphasized that Iran will never obtain a nuclear weapon, framing the deal as a step toward stability. The second phase of negotiations is expected to address lingering technical and logistical challenges before full implementation.