US President Donald Trump announced on June 15 that the US and Iran had signed a preliminary peace agreement to end the war in the Gulf, though key details remain unclear. Trump said, "The deal’s all signed." [1, 2, 3]

The agreement includes reopening the blockaded Strait of Hormuz toll-free and extends the existing ceasefire for 60 days. [1, 2, 3] Pakistani Prime Minister Shehbaz Sharif said both sides "have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon." [3]

US Vice President JD Vance said he plans to attend the formal signing ceremony in Geneva on June 19, with Trump possibly also attending. Vance told reporters, "I certainly plan to be there, but it's possible the president himself could be there. We're still figuring out the logistics on who's going to attend that signing ceremony." [1, 2, 3, 4]

Iran announced on June 16 that Iranian Parliament Speaker Mohammad Bagher Qalibaf will lead the Iranian delegation for the signing. [4]

While the memorandum of understanding is only about 1.5 pages and described by Vance as "a very general document," preliminary terms reportedly cover reopening the crucial Strait of Hormuz without tolls and extend the ceasefire for two months. [2] Some sources say the deal could bring economic benefits to Iran by lifting sanctions, unfreezing assets, and creating a US$300 billion reconstruction fund funded by Gulf neighbors. [1, 2]

Iran has agreed to sharply curtail its nuclear program, though it denies intentions to develop nuclear weapons. The fate of Iran’s uranium stockpile remains unresolved. [1, 2]

There is some disagreement on the agreement’s scope. While some sources emphasize the details remain unclear and Iran has not made major concessions on nuclear or missile programs, others cite the agreement’s declaration to end military operations permanently on all fronts, including Lebanon. [1, 2, 3]

The formal signing ceremony is scheduled for June 19 in Geneva, Switzerland, with leaders from both sides expected to attend. [1, 2, 3, 4]