Full story
MOU Signed, Talks Loom
Iran and the United States formally signed a Memorandum of Understanding to end the war, with Pakistan confirming the ceremony would be held Friday in Switzerland after the leaders signed the text on Thursday morning.
Pakistan’s Prime Minister Shehbaz Sharif said, "Pakistan, with the support of Qatar as a participating mediator, will host the official ceremony scheduled for June 19, 2026 in Switzerland," and the BBC reported that the signing took place in France at the Palace of Versailles.
The BBC also quoted U.S. President Donald Trump saying, "The signing has taken place. It was signed in Versailles. I just signed," while Iran’s Foreign Ministry spokesman Ismail Bagheri said, "We have concluded that the text of the agreement should be electronic and signed by the leaders of the two countries."
The BBC reported that Pakistan said Iran would reopen the Strait of Hormuz "immediately" and that the United States would lift the blockade "immediately," and it added that the memorandum included an end to the naval blockade imposed on the region.
The BBC further said the memorandum required Iran "not to produce or possess nuclear weapons" and that Iranian Parliament Speaker Mohammad Bagher Ghalibaf said $300 billion was allocated for investment in Iran, with a portion designated for rebuilding the country.
Swiss Technical Talks Called Off
Fresh uncertainty hit the agreement after planned follow-up talks in Switzerland were called off, with Switzerland’s foreign ministry saying U.S.-Iran talks scheduled to take place at Bürgenstock on Friday would not proceed as planned.
CNBC reported that a White House spokesperson said, "The plans for the upcoming technical talks have not been finalized," and it added that Vice President JD Vance was no longer traveling to Switzerland due to unresolved logistical issues.
The Guardian said the cancellation came as Israel and Hezbollah traded deadly strikes, with Hezbollah killing four Israeli soldiers and Israel carrying out a wave of retaliatory airstrikes that killed at least 18 people.
The New York Times reported that diplomats said the fighting in Lebanon delayed the next stage of talks and that Swiss officials announced the postponement, while it quoted Israeli ambassador Yechiel Leiter saying, "If Hezbollah honors the agreement and ceases its hostilities, they will be met with quiet."
The Guardian also reported that the White House spokesperson said, "The logistics of these negotiations have never been simple or predictable," and that "As of now, the vice-president is not departing tonight," as Vance’s staff and journalists gathered at Joint Base Andrews outside Washington.
Reciprocity, Criticism, Next Steps
As the agreement moved into a 60-day negotiating period, Iran’s National Security Council warned of a "reciprocal response" if the United States violates the peace agreement, and CNN reported the statement said the council would "not rest until the full rights of the Iranian nation have been restored."
“Iran and the United States formally sign the Memorandum of Understanding to end the war, and Pakistan confirms the ceremony will be held Friday in Switzerland”
CNN also quoted the National Security Council warning that "should any deviation or violation occur on the part of the United States, a reciprocal response will be carried out in accordance with a predetermined plan," while it said the memorandum called for "the immediate and permanent termination of military operations on all fronts, including in Lebanon."
In Washington, Republican hawks criticized the deal’s terms, and The Times of Israel reported that Senator Bill Cassidy wrote that Ronald Reagan would be "rolling over in his grave" and called it "the worst foreign policy blunder in decades."
The Times of Israel also quoted Cassidy saying, "Now, 13 Americans are dead, families have paid billions at the pump, sanctions will be lifted, and the bombing has stopped," while it described concerns that the memorandum did not secure firm commitments on uranium enrichment, ballistic missiles, or Tehran’s support for armed proxies.
The BBC said the memorandum required lifting oil sanctions so Iran could begin selling its oil from today for 60 days, and it reported that Iranian Foreign Ministry stressed the necessity of lifting oil sanctions and that negotiations would begin immediately to establish a mechanism to implement the memorandum.
