Memorandum of understanding between US and Iran includes sanctions relief

19 June 2026

A preliminary memorandum of understanding for an end to the conflict between the US and Iran was signed on 17 June 2026, following the parties’ agreement to draft a deal. Both sides will have 60 days to negotiate a comprehensive final agreement to be endorsed by a UNSC Resolution.

In exchange for Iran re-opening the Strait of Hormuz to commercial shipping to restore pre-war volume within 30 days, agreeing to a permanent end to the war on all fronts, and agreeing to never produce nuclear weapons, the US commits to:

• Ending all primary and secondary US sanctions on Iran and ending sanctions under the UN Security Council and the Board of Governors of the International Atomic Energy Agency, on a schedule to be agreed as part of the parties’ final agreement. For more information on existing sanctions on Iran visit our Iran regime page;

• Issuing immediate waivers for the export of Iranian crude oil, petroleum products and their derivatives, and all associated services upon signing of the MOU;

• Issuing necessary licences for frozen funds and assets to be released upon the implementation of the MOU’s terms.

30 countries, including the E4, Canada, and Japan, have issued a statement agreeing to lift sanctions in response to Iran taking verifiable steps to de-escalate its nuclear program.  Russia has also encouraged compliance with the MOU.