14-point US-Iran – The United States unveiled a 14-point interim agreement with Iran on June 17, setting terms to end the blockade of Iranian ports, reopen the Strait of Hormuz, and pause wider escalations—including in Lebanon—while pushing the next 60-day phase toward limits on
On the final day of the Group of Seven summit in France. President Donald Trump made the stakes unmistakable: the United States would “go back to bombing” if Iran doesn’t follow the terms of a new interim deal—or if the talks fail to produce a long-term agreement that blocks Tehran from producing a nuclear weapon.
Trump said the agreement is a memorandum of understanding that could expire if it isn’t completed within 60 days. “It’s a memorandum of understanding. If it doesn’t get done in 60 days, that’s alright, we go back to bombing,” he told reporters on June 17.
Hours later, the U.S. government turned those threats into a document. A senior U.S. official read the 14-point deal aloud to reporters during a call focused on the agreement—now scheduled to be formally signed in Switzerland on Friday. Vice President JD Vance is expected to attend the signing ceremony.
Pope Leo praised the interim peace agreement between the U.S. and Iran, calling for the end of the war.
The agreement itself is built around a near-term de-escalation and a longer-term pivot to nuclear constraints, with the most immediate change directed at maritime traffic through one of the world’s most strategic waterways.
The agreement outlines conditions for reopening the Strait of Hormuz, calls for an immediate end to hostilities on all fronts including in Lebanon, and sets expectations for the next phase of talks on what it described as more challenging issues—mainly the future of Iran’s nuclear materials.
Within 30 days, the U.S. would dismantle its blockade on Iranian ports and ships, an action that first went into effect in April. At the same time. Iran is to arrange “the safe passage of commercial vessels with no charge for 60 days only from the Persian Gulf to the Sea of Oman and vice versa. ” as the agreement says. according to a top U.S. official.
The text reportedly also frames how traffic would restart and what needs to happen on the ground. “The traffic of commercial vessels will immediately start. and considering the need for removing the technical and military obstacles and demining by the Islamic Republic of Iran will be instated within 30 days. ” the agreement text reportedly says.
Iran would also communicate with Oman over “the future administration and maritime services in the Strait of Hormuz,” with discussions involving other Persian Gulf states.
Markets felt the shift quickly. Oil prices plummeted in recent days as details of the deal began circulating. The agreement’s maritime focus is tied to the months-long war that had choked off traffic in the Strait of Hormuz. a route that carries one-fifth of the world’s oil—contributing to a spike in global energy prices.
Sanctions relief and a development fund
Beyond shipping, the 14-point deal also speaks to money and sanctions. It pledges that the United States will end sanctions on Iran “in an agreed upon schedule” as part of a final deal.
It also includes the creation of a private fund that would provide $300 billion in development funding to Iran. That figure drew sharp criticism from conservative lawmakers.
On June 17, Sen. Ted Cruz, R-Texas, said on his podcast that giving $300 billion to Tehran would be an “incredibly foolish idea” and that such a move would be “indefensible.”
At the G7, Trump argued that the U.S. has held onto frozen Iranian assets and that some of them eventually must be returned. “We have taken their money. It’s not our money,” Trump told reporters. “It’s their money, and we froze it. At a certain point in time I guess we have to give it back.”
Trump also argued that not returning Iran’s frozen assets could result in countries refusing to invest in the U.S. dollar. The Obama administration made a similar argument when it unfreezing foreign assets under its 2015 Joint Comprehensive Plan of Action. or JCPOA. which Trump has repeatedly criticized and withdrew the U.S. from in his first term.
Nuclear talks: status quo, then enriched uranium negotiations
While the agreement immediately reduces pressure on the region, it also defines a near-term pause in nuclear escalation.
The deal says “Iran reaffirms that it shall not procure or develop nuclear weapons” and that Tehran and Washington have agreed “to resolve the disposition of stockpile enriched material.”
Negotiations over Iran’s enriched uranium are set to occur over a 60-day period, with an extension possible if both countries agree.
Pending the final deal, the text calls for both sides to maintain a status quo posture. It says: “Pending the final deal. the United States of America and the Islamic Republic of Iran agree to maintain the status quo. The Islamic Republic of Iran will maintain the current status quo of its nuclear program. and the United States of America will not impose any new sanctions. and will not deploy additional forces in the region.”.
Lebanon ceasefire—without Israeli troop withdrawal
The agreement’s immediate ceasefire language reaches Lebanon. It says the United States, Iran, and its allies will oversee the “immediate and permanent termination of military operations on all fronts including Lebanon.”
But the text’s scope does not appear to cover a key demand made by Iranian leaders: it includes Lebanon in a ceasefire without requiring Israel to withdraw its troops from southern Lebanon.
Prime Minister Benjamin Netanyahu has said that Israel will not pull its troops out of southern Lebanon and vowed to respond to any attacks from Hezbollah. Trump on Wednesday described the U.S.-Israel relationship as an “amazing partnership,” while saying Netanyahu needs a “softer touch” in Lebanon.
“[Israel] could do a much better job with Hezbollah,” Trump said. “On that, I don’t think they’re doing well.”
Taken together. the agreement sets up a narrow window: it opens the Strait of Hormuz and stops new sanctions and military deployments in the near term. while drawing the next phase toward Iran’s nuclear materials. The document is also framed with an explicit deadline—60 days—after which Trump warned the U.S. would revert to bombing if the plan fails.
US Iran agreement 14-point deal Strait of Hormuz sanctions relief $300 billion fund Ted Cruz JD Vance nuclear talks enriched uranium Lebanon ceasefire Donald Trump