Trump Signs US-Iran Agreement to End Conflict at Versailles Dinner
President Donald Trump signed a US-Iran memorandum of understanding Wednesday night, June 17, moments before attending French President Emmanuel Macron’s dinner at the Palace of Versailles.
Iran’s President Masoud Pezeshkian signed the deal from Tehran the same day. US Vice President JD Vance is set to sign it at a formal ceremony in Geneva on Friday.
Iran’s chief negotiator Mohammad Bagher Ghalibaf dismissed the agreement, calling it “a record of US failure. People will see it and judge.”
Trump defended the deal, saying no US president had been tougher on Iran and adding, “there is nothing as smart as the market – and the market loves it.” He warned the alternative would be “a worldwide depression,” claiming the Strait of Hormuz would stay closed without it due to rockets and mines threatening shipping.
*Key terms of the deal:*
1. *For Iran*: Immediate end to the US naval blockade on Iranian ports, waivers to export crude oil, possible lifting of all international sanctions, unfreezing of billions in assets, and a proposed $300bn Gulf-funded reconstruction fund.
2. *For the US + allies*: Iran agrees to rein in proxies like Hezbollah in Lebanon and “reaffirms it shall not procure or develop nuclear weapons.” Ships also get 60 days of toll-free passage through the Strait of Hormuz.
But the deal hit a snag Wednesday. Ghalibaf said Iran plans to charge ships using the Strait once the 60-day toll-free period ends.