In a significant step toward ending over 100 days of US-Iran military conflict, both nations electronically signed a Memorandum of Understanding (MoU) on June 15, 2026, confirming the framework for a ceasefire and the reopening of the Strait of Hormuz. US President Donald Trump announced the development from the G7 Summit in France, declaring that the Strait would be “fully open” by Friday, June 19 — the same day a formal signing ceremony is scheduled in Zurich, Switzerland.
What the MoU Contains
According to US officials, the electronically signed MoU lays out the framework for ending the conflict. Key elements include an “immediate and permanent termination of military operations on all fronts,” including Lebanon, the removal of the US naval blockade on Iranian ports, and authorization for the Strait of Hormuz to operate toll-free for commercial shipping. Trump posted on Truth Social: “The deal is fully signed. Let the oil flow!”
However, significant details remain undisclosed. Senior US officials indicated the full text of the memorandum would be made available within 24 to 48 hours of the June 15 announcement. The deal also outlines a $300 billion reconstruction fund for Iran, disbursed in phases contingent on compliance, and sets a 60-day window for follow-on nuclear negotiations. Iran’s frozen overseas assets, currently at zero, will be unlocked only after compliance milestones are verified.
Pakistan’s Role and the Road to Zurich
Pakistani Prime Minister Shehbaz Sharif played a central role in mediating the deal. He announced the MoU publicly via social media, stating that both sides had agreed to “an immediate and permanent cessation of military operations on all fronts.” Sharif confirmed the formal signing would take place in Zurich on June 19, witnessed by senior diplomats from the United States, Iran, Pakistan, and Qatar.
The partial reopening of the Strait of Hormuz has already begun, with Iranian vessels reported moving through the waterway following the US lifting of its naval blockade. However, US officials cautioned that full normalisation of shipping — particularly for large oil tankers — will take some time due to ongoing mine-clearing operations and port congestion. Trump has asked G7 allies for assistance in mine-clearing efforts. The eyes of the world remain on Zurich for June 19, when the conflict that shook global energy markets will be officially declared over.