Trump Signs Preliminary Iran Agreement Amidst Ongoing Conflict

President Trump signed a preliminary memorandum of understanding on Wednesday aimed at ending a conflict that has lasted three and a half months, according to the Islamic Republic News Agency (IRNA). The agreement promises an end to military operations on all fronts and the reopening of the Strait of Hormuz. However, Israel has remained defiant, continuing its military operations in southern Lebanon.

Vice President JD Vance delayed a trip to Switzerland, scheduled for Friday, to negotiate the terms of a peace agreement with Iran. The reason for the last-minute cancellation of the talks in Lucerne remains unclear, despite the presence of hundreds of journalists.

The memorandum, signed by Trump, is intended to end the war which has resulted in thousands of deaths across the Middle East, impacted the global economy, and displaced millions, according to the United Nations. Following the agreement, the United States lifted its naval blockade on Iran. The agreement also includes a commitment to end military operations on all fronts and reopen the Strait of Hormuz, a vital waterway for global oil, gas, and fertilizer transport.

Trump expressed optimism about the agreement, stating on Truth Social, “Ships of the World, start your engines. Let the oil flow!” He had previously described the memorandum as fragile, noting at the G7 summit in France that the U.S. could revert to military action if Iran did not comply.

The preliminary agreement establishes a 60-day period, extendable by mutual consent, for the U.S. and Iran to resolve long-standing enmity. Despite the agreement’s promise to cease military actions, Israel has continued its offensive in southern Lebanon, which it states is targeting the Iranian-backed militia Hezbollah. Lebanese media reported at least 18 fatalities from overnight strikes, while Israel reported four soldiers killed in fighting in southern Lebanon.

Iranian Foreign Minister Abbas Araghchi emphasized that Iran considers Israel’s withdrawal from southern Lebanon a prerequisite for the war’s full conclusion. Israeli Prime Minister Benjamin Netanyahu, however, has stated his troops will remain in southern Lebanon as long as Israel’s security demands it. Trump described Netanyahu as “a very difficult guy” in a recent statement to The New York Times. Israel’s military released a new map on Thursday depicting an expanded Israeli-occupied area in southern Lebanon, designated as a buffer zone. Israeli national security minister Itamar Ben-Gvir asserted on social media that Israel is not bound by Trump’s agreement and is not a partner to a deal that does not ensure its security.

Trump stated he signed the agreement to avert an “economic catastrophe,” citing concerns over soaring gasoline prices and inflation impacting Americans. As per the deal, Iran’s national security council will suspend tolls for ships for 60 days, though permission will still be required to pass through the Strait of Hormuz.

The memorandum includes significant concessions to Iran, potentially exceeding those of the 2015 Joint Comprehensive Plan of Action (JCPOA) that Trump abandoned. The U.S. will work with regional partners to establish a reconstruction and economic development fund for Iran amounting to at least $300 billion, with Vice President Vance suggesting Gulf Arab nations would contribute this sum. Additionally, the U.S. plans to unfreeze Iranian funds and assets, potentially worth tens of billions of dollars. Iran has indicated a desire for the release of $24 billion, according to military adviser Mohsen Rezaei.

The Trump administration also intends to issue sanction waivers, allowing Iran to resume oil sales immediately. This move, along with the potential end of all U.S. and international sanctions on Iran, represents a significant shift from the JCPOA, which had lifted some sanctions in exchange for Iran limiting its uranium stockpile. The agreement stipulates that Iran shall not procure or develop nuclear weapons, a commitment that mirrors previous pledges.