The White House has confirmed that a 14-point US-Iran ceasefire agreement, structured as a Memorandum of Understanding (MoU), has been signed and is now in effect. President Donald Trump signed the deal during a G7-related dinner at the Palace of Versailles, while Iranian President Masoud Pezeshkian has also signed. The "performance-based" agreement immediately ends military operations on all fronts, including Lebanon, begins a 30-day timeline to lift the US naval blockade, and reopens the crucial Strait of Hormuz to commercial traffic without charges. While the MoU specifies that Iran will never develop nuclear weapons and must downblend its enriched uranium under IAEA supervision, it also outlines a $300 billion regional fund for Iran’s economic reconstruction—notably requiring zero financial contribution from the US. Both nations now have a maximum of 60 days to negotiate a final, permanent deal to be ultimately endorsed by the UN Security Council.