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Economics12h 58m ago

The US and Iran signed a Memorandum of Understanding (MoU) to end their war, reopen the Strait of Hormuz, and begin a 60-day negotiation period.

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Versailles, Switzerland

Who
US, Iran, US President Donald Trump, Iranian Foreign Ministry spokesman Esmail Baghaei, Tanit Sorat, Suphajee Suthumpun, Aat Pisanwanich, Poonyawat Sreesing
What
The US and Iran signed a Memorandum of Understanding (MoU) to end their war, reopen the Strait of Hormuz, and begin a 60-day negotiation period.
When
Thu, 18 Jun 2026 21:45:00 GMT · 12h 58m ago
Where
Versailles, Switzerland ·
Why
The MoU aims to end the war, reopen the Strait of Hormuz, ease inflation, and support potential economic growth by reducing oil prices.
The Frontline Impact

How this affects you

Oil prices tumbled to $75-78 per barrel, leading to revised oil price estimates for the year to $85-90 from $95, a lowered inflation outlook to less than 3%, and an upgraded Thai GDP growth to around 2% from 1.7%. Washington committed to waive oil sanctions and facilitate a $300-billion reconstruction fund release, while Tehran agreed to dilute enriched uranium.

Story chain

6 events in this thread
  1. Economics8h 13m ago
    The agreement gives Washington and Tehran 60 days to reach a final settlement, with the first round of follow-up talks scheduled for June 19.
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  2. Economics8h 13m ago
    The first round of follow-up talks between Washington and Tehran is scheduled to reach a final settlement after a memorandum of understanding.
    Open article
  3. Economics12h 58m ago
    The US and Iran signed a Memorandum of Understanding (MoU) to end their war, reopen the Strait of Hormuz, and initiate a 60-day negotiation period for a longer-term agreement.
    Open article
  4. Currently Reading12h 58m ago
    The US and Iran signed a Memorandum of Understanding (MoU) to end their war, reopen the Strait of Hormuz, and begin a 60-day negotiation period.
  5. Economics22h 43m ago
    The US and Iran signed a 14-point memorandum of understanding (MoU) calling for a halt to hostilities, a 60-day negotiating window, restoration of maritime traffic, lifting the US blockade, and waivers for Iranian crude and petrochemical exports.
    Open article
  6. Economics22h 43m ago
    The US and Iran signed a 14-point memorandum of understanding (MoU) that calls for a halt to hostilities, a 60-day negotiating window and the restoration of maritime traffic to pre-war levels within 30 days.
    Open article

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