Trump Says He Will Sign US-Iran Agreement: Strait of Hormuz Could Reopen Immediately and Toll Cancelled

WASHINGTON, June 12 — The United States and Iran have reached a memorandum of understanding (MOU), multiple diplomatic sources and U.S. officials confirmed Tuesday, with President Donald Trump expected to sign the deal in the coming days. Core terms of the agreement include the immediate reopening of the Strait of Hormuz, elimination of transit fees, and gradual relief from U.S. sanctions on Iran contingent on Tehran’s compliance. The MOU extends the current bilateral ceasefire by 60 days, a timeline designed to facilitate a new round of nuclear negotiations. While the framework addresses Iran’s enriched uranium stockpile, final details for Iran’s nuclear program will be ironed out in a subsequent, more detailed phase of talks. Diplomatic sources note the MOU text has been approved by senior Iranian leadership, but lacks final political endorsement. Iran’s Foreign Ministry has stated no final decision on the deal has been made. Under the draft, the U.S. will lift sanctions incrementally based on Iran’s compliance and “good faith,” and may grant temporary waivers to allow phased Iranian oil exports to restore the country’s fiscal revenue. A remaining point of contention is the structure for unfreezing Iran’s overseas assets: options include releasing funds in installments or through a separate mechanism. The deal also requires a return to pre-war shipping volumes through the Strait of Hormuz, with normal transport flow to resume within 30 days, while the U.S. will concurrently lift its associated blockade measures. Mediated by Qatar and Pakistan, the agreement is internally referred to as the “Islamabad Agreement.” If finalized, an official signing ceremony is expected in the coming days.