WASHINGTON — The United States and Iran have reached a signed memorandum of understanding to bring their nearly four-month war to a close, senior U.S. officials announced Monday. A formal signing ceremony is set to take place on Friday.
According to one U.S. official, the agreement has been signed by President Donald Trump, Vice President JD Vance, and Iranian parliament speaker Mohammad Bagher Qalibaf.
Alongside the announcement of the signed document, officials indicated that maritime activity in the Strait of Hormuz is already beginning to pick up.
“You will see significant increase in traffic in the Strait of Hormuz, actually starting already, and that will ramp up slowly over time,” said a U.S. official who spoke on the condition of anonymity during a briefing with reporters.
The official tempered expectations for an immediate full return to normalcy, stating, “We probably won’t return to normal in two weeks, but we will see a significant increase in strait traffic.”
Both nations confirmed they had agreed on terms to end hostilities and reopen the strategic waterway, news that offered relief to financial markets. However, the agreement may depend on a cessation of fighting in Lebanon, and discussions about Tehran’s nuclear program have been pushed to a later date.
Though still considered a framework agreement, the deal stands as the most significant breakthrough in efforts to end the conflict, which began in February following joint U.S.-Israeli strikes on Iran. The war has resulted in thousands of deaths and severely disrupted global energy markets.
