US and Iran Sign Initial Memorandum Amid Ongoing Regional Tensions
President Trump and Iranian officials signed a memorandum to halt hostilities and reopen the Strait of Hormuz, while Israel continues strikes in Lebanon and US lawmakers voice criticism of the deal.
President Donald Trump and Iranian representatives signed a memorandum of understanding that calls for an immediate cease-fire, including in Lebanon, and aims to restore commercial traffic through the Strait of Hormuz. The agreement triggers a 60-day window, ending on August 17, for the parties to negotiate a permanent settlement, according to U.S. Vice President JD Vance.
Israel’s UN ambassador Danny Danon said Israel trusts the United States to secure a favorable deal, describing the memorandum as “only the start of the negotiations.” However, Prime Minister Benjamin Netanyahu told Trump that Israel does not consider itself bound by the agreement and will maintain military operations against Hezbollah in southern Lebanon.
Iran’s supreme leader Ayatollah Seyyed Mojtaba Khamenei confirmed he authorized the agreement despite personal reservations, stating that he acted on the commitment of the head of the Supreme National Security Council to protect Iran’s interests.
Vance indicated that the United States is honoring its pledge to lift the blockade on Iranian ports and that Iran is complying with its military obligations so far. He said technical talks on the final details are slated to begin this weekend, and a subsequent in-person signing is planned in Switzerland.
The memorandum includes provisions for the release of frozen Iranian assets, potentially up to $300 billion, contingent on Iran’s compliance with nuclear and security conditions. Vance declined to specify funding sources or exact amounts of frozen assets.
Republican senators, including Ted Cruz and Bill Cassidy, criticized the framework, warning that large cash transfers could fund hostile actions and weaken U.S. allies. Other lawmakers expressed a desire for more clarity on the administration’s strategy and the deal’s repercussions.
Vance emphasized that Israeli strikes in Lebanon have sometimes hampered progress toward a broader peace, urging Israel to respect the process. He also asserted that the United States can monitor Iranian financial flows and is confident it can prevent funding of terrorist proxies.
The memorandum sets the stage for further negotiations, but significant disagreements remain among regional actors and within the U.S. Congress.
