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A 14-point preliminary peace framework between the US and Iran has brought a rare moment of cautious optimism to the Middle East after months of sizzling military confrontation, maritime disruption and rising international concerns over security of the Strait of Hormuz. 

According to Iran’s PressTV, a memorandum of understanding (MoU) between Iran and the US has now been formally signed by the presidents of both countries, with the text finalized and the agreement officially entering into force, Iran’s Foreign Ministry spokesperson announced on Wednesday local time. 

The spokesman explained that the delay between finalization of the MoU on Sunday and its publication on Wednesday was due to standard diplomatic procedures and the importance of coordinating with mediators. "No signing ceremony will be held in Switzerland,” Esmaeil Baghaei told the IRIB’s News Network. 

US President Donald Trump signed the document on Wednesday while at dinner at the Palace of Versailles with French President Emmanuel Macron, the NBC News reported citing White House confirmation. Asked by a reporter about the signing while leaving Versailles, Trump said, “It’s signed. Signed in Versailles. Just signed it.”

Thankful to China

Both sides expressed appreciation for China’s role in facilitating the deal. Overall, by advancing the four-point proposal – namely adherence to the principles of peaceful coexistence, national sovereignty, international rule of law, and a balanced approach to development and security and conducting extensive diplomatic mediation around this conflict, while maintaining close communication with all parties to the conflict and relevant mediators, China has played an important and constructive role in achieving a ceasefire and ending the war, some Chinese observers said.

According to Xinhua, Member of the Political Bureau of the Communist Party of China Central Committee and Foreign Minister Wang Yi held a phone call with Iranian Foreign Minister Seyed Abbas Araghchi on Wednesday at the latter’s request. 

Araghchi briefed on the situation of the first-phase MoU between Iran and the US, and sincerely thanked China for its active role in promoting negotiations and reaching an agreement, per Xinhua.

Wang said China welcomes the signing of the first-phase MoU. Facts have proved that force and power cannot solve problems, and dialogue and negotiation are the correct choices, he added.

Speaking at a press conference on the sidelines of the Group of Seven summit in Evian-les-Bains, France, Presisent Trump told reporters he was grateful to the leaders of China and Russia for staying out of the conflict, Reuters reported.

Trump publicly thanked China for what he described as its neutral stance during the conflict, saying Beijing’s non-intervention had helped ease the path toward de-escalation and “probably helped get it solved.” 

MoU details

US government officials on Wednesday local time released the full 14-point text of the MoU, the Xinhua reported on Thursday. 

According to CNN, the US and Iran agree to "declare the immediate and permanent termination of military operations on all fronts" and to "refrain from the threat or use of force against each other." The two sides also pledge to respect each other's sovereignty and territorial integrity and negotiate a final agreement within 60 days.

Under the MoU text on the CNN website, the US will immediately begin lifting its naval blockade and gradually ease sanctions and restrictions on Iran after the agreement is signed, while Iran reaffirms that it "shall not procure or develop nuclear weapons."

Washington also commits to working with regional partners on a reconstruction and economic development plan for Iran worth at least $300 billion.

Pending a final deal, both sides agree to maintain the status quo and avoid escalatory measures, with Iran maintaining its current nuclear program and the US agreeing not to "impose any new sanctions nor deploy additional forces in the region," according to the draft document.

The final point of the MoU states that the final agreement will be endorsed through a binding United Nations Security Council resolution, according to the text published by CNN.

“The signing of this agreement at the highest level of the respective governments demonstrates the commitment of both sides to a diplomatic resolution of the conflict. Islamabad MoU shall enter into force with immediate effect and as a first step, Islamic Republic of Iran will instantly reopen the Strait of Hormuz and the United States of America will immediately lift the naval blockade,” Pakistani Prime Minister Shehbaz Sharif wrote in an X post on Thursday. 

A turning point? 

As the signing of the peace framework signals a potential turning point in the Middle East conflict, Liu Zhongmin, a professor at the Middle East Studies Institute of Shanghai International Studies University, told the Global Times that the deal remains highly fragile. He cited deep-rooted differences between Washington and Tehran over the nuclear issue, along with Israel’s persistent and disruptive military attacks on southern Lebanon.

Iran’s Press TV reports that 11 Iranian ships have sailed through the US naval blockade since Tehran and Washington finalized the text of the MoU on Sunday.

Citing an informed source, the outlet reported that eight vessels sailed from Iran’s territorial waters to international waters, while three entered Iranian waters.

According to Al Jazeera, citing Reuters, oil prices fell in early trading after the presidents of the US and Iran signed an interim deal to end the war and reopen the Strait of Hormuz.

Brent crude futures edged down 89 cents, or 1.12 percent, at $78.66 a barrel as of 00:05 GMT, and US West Texas Intermediate fell 98 cents, or 1.28 percent, to $75.81 a barrel.

BBC on Thursday noted that President Trump framed it as a major win for the US in a lengthy press conference at the G7 summit in France. But it noted that “new details released by US officials in a call with reporters confirm both countries still have a long way to go to reach a comprehensive final peace agreement that achieves Trump's primary goal of stopping Iran from ever developing nuclear weapons.”

Trump has insisted the deal ensures that Iran will never buy, develop or produce a nuclear weapon. But the text of this agreement, which was read aloud by officials on the call, falls short of that, the BBC report highlighted. 

Additionally, some media outlets have suggested that the conflict in Lebanon is “far from over” despite the US-Iran MoU. Israel has expressed dissatisfaction with the inclusion of a Lebanon ceasefire in the MoU. In fact, Israeli attacks continue in some areas in southern Lebanon, especially in the Nabatieh area, per the Al Jazeera on Thursday.

Iran's Foreign Ministry spokesperson Baghaei said on Thursday that if Israel continues its attacks on Lebanon, it will be considered a breach of US commitments, Xinhua reported, citing Iran's Tasnim News Agency. 

As the MoU includes ceasefire provisions for the Lebanon front, it could provide Israel with an opening to sabotage the agreement, Ding Long, a professor at the Middle East Studies Institute of Shanghai International Studies University, told the Global Times on Thursday.

Both Washington and Tehran are currently focused on securing a ceasefire and advancing a more comprehensive long-term agreement. Therefore, they are unlikely to allow Israel to interfere, Ding noted.