Trump Administration Outlines Proposed Terms of Iran Agreement

The Trump administration outlined the terms of a memorandum of understanding with Iran on June 17, 2026. The agreement includes immediate waivers for Iranian oil exports, a framework for at least $300 billion in reconstruction and economic development, and a 60-day negotiation period for a final agreement on Iran's nuclear program. Senior U.S. officials stated that the U.S. Department of Treasury will issue waivers for the export of Iranian crude oil and associated services. They emphasized that these waivers are the only significant benefit Iran will receive before a final agreement is reached. The memorandum also calls for a plan for reconstruction and economic development, which does not commit the U.S. to funding but allows for outside investment if a final deal is reached. The agreement guarantees toll-free commercial transit through the Strait of Hormuz during the negotiation period but leaves longer-term arrangements to future discussions. The central issue of Iran's nuclear program remains unresolved, with negotiations set to begin after the deal is signed.