The Trump administration has unveiled the text of a 14-point memorandum of understanding with Iran, framing the 60-day ceasefire as a necessary move to reopen the critical Strait of Hormuz and prevent a global economic meltdown. The agreement pauses a months-long conflict that has claimed thousands of lives and damaged the global economy, but its significant political and financial concessions are already drawing sharp praise from some international allies and intense pushback from hardliners.
President Donald Trump strongly defended the agreement on Wednesday, brushing off criticisms and pointing to the immediate positive reaction from global markets.
“There is nothing as smart as the market – and the market loves it,” Trump said, noting that the price of Brent crude oil had already dipped. He warned that without this intervention, “the alternative would be a worldwide depression,” because “the strait would never have been opened. They don’t like floating billion-dollar ships up and down the strait when their rockets are flying overhead and there are mines all over the place.”
The agreement marks a major shift in U.S. policy toward Tehran. In his remarks, Trump indicated the U.S. would return billions of dollars in frozen Iranian assets. “We have taken a lot of their money,” Trump told reporters. “It’s not our money, it’s their money, and we froze it at a certain point in time. I guess we’re going to have to give it back, you know, if we didn’t give it back, nobody would ever invest in the dollar again.”
Additionally, Trump softened his stance on Iran’s defense capabilities, suggesting he would not pressure Tehran to scrap its ballistic missile program. “They have to have some, because other people have some,” Trump stated. “What am I going to do? Am I going to let Saudi Arabia have missiles, but they can’t have them?”
On the security front, senior administration officials emphasized that the deal keeps Iran from building a nuclear weapon. A key component involves talks to down-blend Iran’s 440-kilogram stockpile of highly enriched uranium under International Atomic Energy Agency (IAEA) supervision.
An official briefing journalists stated, “At a minimum, the enriched stockpile will be destroyed by down-blending. We will push for more than that, but the fact that they’re conceding to that is a major, major win for the United States of America.” In exchange, Iran guarantees toll-free passage for 60 days through the Strait of Hormuz, a route responsible for 20 percent of the world’s oil, and agrees to restrain regional allies like Hezbollah.
Financially, the deal lifts the U.S. naval blockade on Iranian ports, provides crude oil shipping waivers, and opens the door to the potential lifting of all international sanctions.
It also outlines a $300 billion reconstruction fund for Iran, funded by regional partners in the Gulf. Trump shot down any ideas that American taxpayers would foot the bill, stating that payouts by Gulf states would depend on Iran’s good behavior. “Anyone who wants to can invest. What do you expect me to say: no one is allowed to invest? But we’re not investing; we’re not putting up even 10 cents,” he remarked.
The ceasefire also extends to Lebanon, curbing Israeli military actions and guaranteeing Lebanese territorial integrity. However, administration officials did not clarify if this means Israel will be forced to withdraw from its current “buffer zone” in the southern part of the country.
The announcement has split global opinions. French President Emmanuel Macron labeled it a “very good deal” supported by G7 leaders because it “puts a stop to a situation of great instability that had terrible consequences for our economies.” In contrast, Hezbollah chief Naim Qassem celebrated the pact as a “great victory,” a comment expected to stoke frustration in Israel and among conservative Republicans who had urged Trump not to negotiate with Tehran.
Meanwhile, Iran’s official news agency, IRNA, reported that the U.S. has committed to pausing new sanctions and troop deployments during the 60 days while Iran continues its current civilian nuclear program. The formal signing is expected by the end of the week, with potential plans underway for a historic face-to-face meeting between Trump and Iranian President Masoud Pezeshkian in Switzerland.
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