U.S. President Donald Trump signed an interim agreement to end hostilities with Iran and reopen the Strait of Hormuz, accelerating the deal's implementation despite backlash from Republicans who viewed it as a concession to Tehran.
Deal Signed at Versailles
Trump told reporters he signed the document at the Palace of Versailles near Paris after dinner with French President Emmanuel Macron. The historic venue hosted the 1919 peace treaty that ended World War I.
The memorandum of understanding is now in effect, according to a U.S. official. It remains unclear if Iran has immediately begun fully reopening the Strait of Hormuz.
Digital and In-Person Signatures
The memorandum was initially signed digitally on Sunday by Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf, with Trump as a witness. On Wednesday, Trump and Iranian President Masoud Pezeshkian added their signatures.
Under the draft agreement, the strait—closed for months, causing global energy prices to surge—is to be rapidly reopened. The text also includes immediate sanctions waivers for Iranian oil, with talks on nuclear issues and further financial benefits for Iran to follow.
Focus Turns to Shipping
With the agreement in effect, attention shifts to shipping companies that had largely avoided the strait due to blockades by both the U.S. and Iran. Trump had previously stated the deal would be signed on June 19 to allow time for mines to be cleared.
Republican Criticism
Back in Washington, the deal drew unusually sharp criticism from some of Trump's allies who had supported his military campaign in Iran.
Senator Ted Cruz, a Texas Republican, stated: “History teaches us giving billions of dollars to theocratic lunatics who want to murder us is not a good idea.”
Senator Lindsey Graham, a close Trump ally, described the memorandum as a framework rather than a final deal. While praising Trump's efforts, Graham acknowledged “parts of it I don’t like” and expressed doubts about reaching a firm nuclear agreement with Iran.
Economic Motivations
With Gulf energy supplies dwindling during the three-month conflict and global economic strains mounting, Trump indicated that the risk of a major economic crisis influenced his decision to end the war he initiated in February.
Speaking at the Group of Seven summit in France, Trump warned that further military escalation “could have caused an international depression.”
