During a bilateral meeting with Egyptian President Abdel Fattah el Sisi at the Group of Seven summit in Evian, France, President Donald Trump spoke about a memorandum of understanding with Iran. Trump described the deal as 'very strong' but acknowledged that its details are not widely known. He stated, 'Nobody knows what it is, but it’s very strong, and most people seem to be very happy.'
Trump noted that the market has reacted positively, suggesting it has increased significantly in recent days. He mentioned that the Strait of Hormuz is partially open and will fully open soon.
A report from Bloomberg outlined a 14-point plan related to a preliminary 60-day ceasefire, which includes a ceasefire on all fronts, lifting the U.S. naval blockade of the Strait of Hormuz, and financing for Iran. Trump denied that the U.S. would invest $300 billion in Iran, stating, 'We’re not investing. We’re not putting up 10 cents.' He clarified that any investments would be up to private entities.
Trump also confirmed that the memorandum does not include immediate sanctions relief for Iran, emphasizing that Iran must 'behave well.' Representatives from the U.S. and Iran are expected to sign the memorandum on Friday in Geneva, Switzerland, but Trump indicated that if Iran does not comply, hostilities could resume.