The memorandum of understanding signed overnight between Washington and Tehran marks a sharp reversal from President Donald Trump’s earlier pledge that there would be no deal with Iran except “total surrender.” According to the report, the document contains nine American concessions and gives Iran major gains on nuclear, missile, regional and economic issues. U.S. officials reportedly told CNN the text is mainly a political document meant to help Iran sell the deal at home, while Republican Senator Bill Cassidy called it “the biggest policy mistake we made in decades.”
The most striking omission is that Iran’s ballistic missile program and its proxy network, including Hezbollah, the Houthis and militias in Iraq, are not subject to restrictions in the final negotiations. The memo says talks will cover only issues already listed in the text. That stands in contrast to earlier statements by Prime Minister Benjamin Netanyahu, who said ballistic missiles were one of Israel’s three war goals, and to Trump’s own prewar remarks that any deal must address Iran’s missile stockpile. The report says U.S. intelligence assessments indicate Iran still holds up to 75% of its missiles and has restored most of its mobile launchers and missile cities.
The agreement also appears to preserve Iranian control over the Strait of Hormuz. Under the wording described, Iran would allow commercial ships to pass through the strait without payment for only 60 days, with the future of traffic to be determined by Iran and Oman in consultation with other regional states. The article says this amounts to Washington accepting an Iranian demand for a new toll system that would give Tehran significant political and economic leverage.
On Lebanon, the memo calls for an immediate and permanent halt to military activity on all fronts, including Lebanon, and says the parties will guarantee Lebanon’s territorial sovereignty. That language suggests an Israeli withdrawal, though the report says Israel has insisted the Lebanese file is separate from the war with Iran. Hezbollah told Reuters that an Israeli withdrawal is an Iranian condition for a final deal, but not a prerequisite for the memorandum or for negotiations.
Economically, the U.S. is said to have already lifted the naval blockade declared on April 13 and temporarily eased sanctions on Iran’s oil sector, including related services. A final deal could remove all U.S. sanctions, including secondary sanctions on countries and entities that do business with Iran. The memo also says Washington will help establish a $300 billion Iran reconstruction fund, with private investors expected to provide the money, and may release about $100 billion in frozen Iranian assets held in countries including China, the UAE, Qatar and the U.S. On the nuclear issue, the text says Iran reaffirms it will not seek nuclear weapons and that the enriched uranium stockpile will be handled in the final agreement, preferably by dilution inside Iran under International Atomic Energy Agency supervision.
