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Economics12h 50m 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.

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Versailles, Switzerland, Strait of Hormuz

Who
US, Iran, US President Donald Trump, Iranian Foreign Ministry spokesman Esmail Baghaei, Tanit Sorat (National Labour Development Advisory Council chairman), Commerce Minister Suphajee Suthumpun, Aat Pisanwanich (independent scholar), Poonyawat Sreesing (Siam Commercial Bank EIC senior economist)
What
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.
When
Thu, 18 Jun 2026 21:45:00 GMT · 12h 50m ago
Where
Versailles, Switzerland, Strait of Hormuz ·
Why
The MoU aims to end the war, ease inflation by lowering oil prices, support economic growth, and facilitate the release of a $300-billion reconstruction fund.
The Frontline Impact

How this affects you

The agreement led to an immediate fall in oil prices, prompting economists to revise inflation and GDP growth forecasts for Thailand, and is expected to ease global economic tensions for 60 days while detailed terms are negotiated.

Story chain

6 events in this thread
  1. Economics8h 4m 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.
    Open article
  2. Economics8h 4m 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. Currently Reading12h 50m 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.
  4. Economics12h 50m 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.
    Open article
  5. Economics22h 35m 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 35m 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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