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MoU sets 60-day talks
A draft U.S.-Iran agreement described by U.S. officials would open the Strait of Hormuz toll-free for two months and affirm a commitment to Lebanon's territorial integrity as military operations in Lebanon must stop with the signing of the memorandum.
The draft also calls for Tehran to dilute its stockpile of highly enriched uranium and would waive but not permanently end sanctions, while U.S. officials said the Strait of Hormuz would be reopened for only 60 days and that it does not preclude fees in future.
Iran suggested its deal with the United States could be signed by U.S. President Donald Trump and Iranian President Masoud Pezeshkian, and CBC reported Trump said, "You never know with deals, do you? But you're going to find out pretty soon."
The BBC reported that the memorandum of understanding would extend a ceasefire for another 60 days and that nuclear inspectors would "absolutely" be allowed back into Iran as part of the deal, with the signing ceremony expected in Switzerland on Friday.
Israeli dispute and oil flows
As the memorandum of understanding moved toward a signing ceremony in Switzerland, Iran’s Foreign Minister Seyed Abbas Araghchi said any Israeli forces remaining in southern Lebanon, or any Israeli strikes on the country, would constitute a violation of the U.S.-Iran deal.
CBS News quoted Israel’s far-right National Security Minister Itamar Ben-Gvir saying, "Trump's agreement does not bind us," while the same report said Israeli strikes hit south Lebanon despite the memorandum of understanding.
Al Jazeera reported that several tankers carrying Iranian oil crossed the United States blockade line in the Strait of Hormuz, identifying Iran’s "first crude oil exports in two months" and citing digital tracking data corroborated by satellite imagery.
The BBC also said Trump may release a preliminary deal before Friday, and it quoted Vance describing the MOU as "about a page and a half" and a "very general" document.
Nuclear limits and sanctions relief
U.S. officials said the framework deal would commit to agreeing to a final settlement in 60 days that includes limits to Iran’s nuclear program and the removal of U.S. sanctions, and Radio Free Europe/Radio Liberty quoted a senior U.S. official saying, "This is fundamentally an agreement that allows us to open the Strait of Hormuz immediately."
The same Radio Free Europe/Radio Liberty report said the accord had already been signed electronically and described it as marking the most sweeping U.S.-Iran diplomatic breakthrough in years, while the BBC said any sanctions relief or release of assets would depend on Iran meeting commitments under the deal.
In the memorandum’s text published by Al-Sharq للأخبار, the agreement states that Iran will not seek to possess or develop nuclear weapons and that the minimum action would be to reduce the enrichment level at nuclear sites under the supervision of the IAEA.
Al Jazeera Net said Switzerland prepared for the signing day at the Bürgenstock Resort, reporting that the Swiss government approved deployment of "up to two thousand soldiers" and that airspace closure would apply from June 18 to June 20, 2026 around the Bürgenstock area within a radius of 46 kilometers.
