A senior U.S. official told Reuters on Monday that President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf have signed a memorandum of understanding, with Iran’s parliament speaker also signing on behalf of Tehran.
The official said the agreement provides for the immediate opening of the Strait of Hormuz and the lifting of the U.S. blockade on Iran.
He added that traffic through the strategic waterway is expected to increase significantly starting immediately.
Details of the agreement are expected to be released within one to two days, with technical talks scheduled later this week.
According to the official, the unfreezing of funds and easing of sanctions will be performance-based.
He said the United States intends to maintain its current military posture during the next phase of negotiations with Iran.
The official added that Ghalibaf is understood to be authorized by Iran’s supreme leader to sign and negotiate on behalf of Tehran.
He also said Washington is prepared to release frozen Iranian assets and ease sanctions, possibly through limited initial steps, while seeking verifiable and irreversible actions from Iran.
On Lebanon, the official said Israel’s withdrawal from the country is not a condition of the agreement with Iran, adding that Israel retains the right to defend itself against Hezbollah attacks.