U.S. and Iran Sign MoU Ending 111-Day War

The formal signing of the US-Iran MoU is a state-change event ending a 111-day war, reopening the Strait of Hormuz, and directly affecting US energy prices, military deployments, and global markets. Bipartisan backlash and implementation uncertainty make this the dominant story of the day.

The Morning Brief Desk · Thursday, June 18, 2026 · How the Brief is made

Sources: The Hill, BBC World, Axios

President Trump signed a memorandum of understanding with Iran at Versailles on Wednesday, formally ending 111 days of armed conflict between the two countries. French President Emmanuel Macron hosted the signing. The agreement commits Iran to never acquiring a nuclear weapon and includes a $300 billion redevelopment package for Iran.

The 14-paragraph MoU also calls for reopening the Strait of Hormuz to commercial shipping. That timeline faces delays. Iranian mines placed in the strait during the conflict must be cleared before ships can move normally. Both parties criticized the deal as falling short of commitments Trump made at the outset of hostilities. Trump pushed back during an hour-long press conference Wednesday.

Sources

The Hill
Trump signs MOU with Iran ending war while at Versailles with Macron
President Trump signed the memorandum of understanding between the U.S. and Iran ending the war between the two countries while visiting French President Emmanuel Macron at Versailles.
BBC World
What’s in the US-Iran agreement?
The 14-paragraph memo includes an end to fighting, an agreement that Iran will never have a nuclear weapon, and a $300bn redevelopment package for Iran.
Axios
Trump settles for Iran deal that falls short of his promises
President Trump made the case for his deal with Iran during an hour-long press conference on Wednesday, while seeming to lower his own bar for success.
The Hill
Strait of Hormuz reopening likely to be delayed to sweep Iranian mines
Mines placed in the Strait of Hormuz during the Iran war are putting a damper on plans to quickly return shipping traffic to normal under the MoU.