United States and Iran sign memorandum to end conflict
On June 17, 2026, U.S. President Donald Trump and Iranian President Masoud Pezeshkian signed a 14-point memorandum of understanding to end the conflict that began on February 28. The document was signed digitally and remotely, with Trump signing in Versailles, France, and Pezeshkian in Iran. The agreement aims to facilitate a ceasefire, reopen the Strait of Hormuz, and includes provisions for the easing of sanctions and the unfrozen assets of Iran. Following the announcement, oil prices decreased, with Brent crude falling 1.12% to $78.66 and WTI falling 1.28% to $75.81. While the deal is effective immediately, further negotiations are expected to commence on Friday in Switzerland. Some reports suggest the deal involves Iran diluting its enriched uranium stocks, while officials note the presence of U.S. forces in the Gulf will continue for some time. Regional stability remains uncertain due to potential ongoing tensions involving Israel and Lebanon.