US Defence Secretary Pete Hegseth says the US stands ready to "reimpose an ironclad blockade" if Iran doesn't comply with a deal signed by both sides
Donald Trump and Iran's Masoud Pezeshkian signed an initial agreement to end the war last night – watch Trump sign a hard copy
As part of the 14-point document, further talks to reach a final agreement will take place over the next 60 days, during which the Strait of Hormuz reopens
An empowered Iranian regime now knows that the key shipping route is a weapon that can be used, writes the BBC's Jeremy Bowen
Oil prices fall after the signing, with a barrel of Brent crude now costing $78 (£59) – down about 1.5% on the day
Also included in the deal is a $300bn plan for Iran's "reconstruction", but key questions around its nuclear programme remain – here's what the 14-point deal covers
Edited by Andrew Humphrey and Jake Lapham
The third page of the memorandum of understanding posted by Iran's president on social media
Iran's President Masoud Pezeshkian has posted a picture on social media of the signed memorandum of understanding, saying it is "a message from a powerful Iran".
Peace will be "realised in the shadow of mutual respect", he says.
"The Islamic Republic of Iran has always been committed and steadfast to global peace while preserving its dignity and independence", Pezeshkian adds.
Donald Trump has signed a Memorandum of Understanding (MOU) between the US and Iran to end the war, kickstarting a 60-day period in which both countries will work towards a final deal.
The agreement centres around 14 core points, which we have summed up for you here, including the reopening of the Strait of Hormuz.
Iran must be feeling quite pleased about this deal, our chief international correspondent Lyse Doucet writes, whereas for Israel, it presents another blow to Benjamin Netanyahu’s credibility.
Trump has praised the agreement as a major win for the US, although there remain serious questions still to be resolved, not least the issue of Iran's nuclear programme.
US Defence Secretary Pete Hegseth has threatened to reimpose an "ironclad blockade" if Iran does not do "what it says it's going to do" and give up its nuclear weapon ambitions.
Meanwhile, Israel's military operations in Lebanon remain a 'stubborn' talking point with the US.
The Israeli military says its forces are still operating in southern Lebanon due to "operational needs" – despite the memorandum ruling out any further hostilities.
By Shruti Menon
BBC Verify has been looking into reports that three Saudi Arabia-flagged supertankers have transited the Strait of Hormuz.
Data from MarineTraffic suggests they made the crossing with their position transmitters off before switching them back on after crossing into the Gulf of Oman.
The tankers – Awtad, Jaham and Shaden – have been anchored west of the strait in the Gulf since the start of the conflict.
All three loaded with oil at Ras Tanura in Saudi Arabia, according to data from MarineTraffic. Two took on cargo before the conflict, on 27 and 28 February, while the other one loaded a week into the war on 7 March.
Awtad and Shaden are currently broadcasting Republic of Korea and Japan respectively as their intended destinations. Jaham isn’t broadcasting a location at present.
Solid lines in this MarineTraffic map show where the ships were broadcasting their locations – the dotted line where they turned them off
Paul Adams
Diplomatic correspondent
This deal has plenty of critics, including hawks on both sides. But as Iran and US brace themselves for the negotiations to come, some of the most trenchant criticism comes from a man who’s been involved in this process before: the former US Secretary of State Antony Blinken.
“The only 'achievement' of the ceasefire,” he posted on X, “is the likely re-opening of the Strait of Hormuz – which was open before the war started. And we will apparently pay Iran to do so.”
It’s a stinging indictment. Iran stands to benefit to the tune of billions of dollars in oil sales waivers and unfrozen assets, before making any real concessions on the all-important nuclear programme.
But US officials who briefed reporters in Washington yesterday insisted that financial relief would depend on Iran’s behaviour during negotiations.
“If they engage in good behaviour – for example, they get us the nuclear dust while we’re engaged in this final negotiation – then we will release some frozen assets in response to that,” an administration official said.
Expect the negotiations to be tortuous and full of disputes. And to last considerably longer than 60 days.
The Israeli military says its forces are still operating in southern Lebanon, within a security zone extending about 10 km into the country.
The Israel Defense Forces says its presence is due to "operational needs", in a post on its official Telegram channel, and that troops will continue to act to "remove threats".
Earlier today, Lebanese media reported Israeli strikes in the south of the country – despite the US-Iran memorandum ruling them out.
If Iran doesn't comply with the terms in the memorandum, then the US is "more than able to reimpose an ironclad blockade," US Defence Secretary Pete Hegseth says.
The US has agreed to lift its naval blockade which has stopped vessels travelling to or from Iran's coast since April as part of the deal signed this week.
"If Iran does not do what it says it's going to do," which is to give up its nuclear weapon ambitions, then Hegseth says "the war department is here and prepared to restart if we need to".
He says any US military action and negotiations will be "centred" on Iran's nuclear weapons.
Hegseth also says there are European countries who are "prepared to step up" and help clear the Strait of Hormuz.
But he calls directly on the UK to "step up, do even more, spend even more" – in particular, he says the UK should help the US if it requires access to military bases in the UK and Diego Garcia. 
Frank Gardner
Security correspondent
The Gulf Arab states are breathing a collective but cautious sigh of relief. Their vital maritime chokepoint, the Strait of Hormuz, is to reopen for normal traffic, while they hope to have seen the last of Iran’s incoming drones and missiles.
But despite the success of negotiating this Memorandum of Understanding (MOU) there are some serious questions still to be resolved.
Most crucial of all is the nuclear file. The coming 60 days is a very short period in which to thrash out just how Iran’s nuclear programme is going to be monitored to prevent any chance it could be secretly working on a nuclear weapon. It took ten times that length of time to reach the 2015 JCPOA deal that President Trump abandoned in his first term of office.
When the mandated 60-day period of free traffic through the Strait is up then there remains the risk that Iran will try to impose a new paradigm on maritime traffic, charging ‘fees’ rather than ‘a toll’, which are effectively the same thing.
Then there is the money challenge. Under the MOU, Iran is due to get a US $300bn fund for reconstruction, largely financed by the same Gulf Arab states it’s been attacking. Both they and the US will want to ensure that none of this money ends up funding the IRGC’s ballistic missile or drone programmes.
Benjamin Netanyahu has notably made no public remarks since the US and Iran signed a Memorandum of Understanding to stop the war last night.
The Israeli prime minister has appeared to distance himself from the deal, telling Israeli television on Monday that Trump was leading negotiations.
"I have expressed my views in various conversations," Netanyahu said in comments reported by Fox News. “As I said, we often agree, and we often disagree. That happens in the best of families.”
Israel has not been directly involved in the peace talks, but Trump said during a press conference on Wednesday before the signing that he'd sent them a copy of the final text.
Earlier we reported that "stubborn negotiations" are ongoing between the US and Israel regarding Lebanon, despite the memorandum stating that military operations in the country would cease.
Meanwhile, comments from members of Netanyahu's own Likud party, and far-right cabinet ministers in his governing coalition, also show the pressure he faces from his own side.
"Trump's agreement does not bind us," Israel's far-right national security minister, Itamar Ben-Gvir, wrote on social media on Monday. "We are not partners to this agreement that does not ensure our security."
Lucy Williamson
Middle East correspondent, reporting from Jerusalem
What Israeli forces do now in Lebanon could test the US ceasefire with Iran, and also the US-Israeli alliance – but since the ceasefire was signed, Israel’s prime minister has been silent.
His silence echoes against growing demands from across Israel’s political spectrum that he defy Donald Trump and keep fighting Hezbollah in Lebanon.
Israel’s UN ambassador Danny Danon, a close ally of Netanyahu, has described the ceasefire deal as “very bad for Israel”.
It commits the US and its allies to ending hostilities in Lebanon, and respecting Lebanese territorial integrity. Israeli forces are currently occupying a large swathe of the country.
“We must destroy Hezbollah’s army capacity before anyone tells us that there is a ceasefire,” said Michael Biton, a lawmaker with the opposition Blue & White party. “We have to protect ourselves. They still attack us. They still build capacity to attack us. And that’s something we cannot live quietly with.”
Benjamin Netanyahu has staked his political future on the war with Iran and is still insisting that campaign has been a success, even as his critics list the ways Iran has emerged stronger from this conflict.
The inclusion of Lebanon in the ceasefire deal is another sign of Tehran’s new influence.
And the current rift with his American ally, another blow to Netanyahu’s credibility.
Lyse Doucet
Chief international correspondent
We’ll soon find out whether this Memorandum of Understanding is a Memorandum of Misunderstanding.
If you look at the black and white of the text, Iran “reaffirms” that it will not acquire a nuclear weapon – but that’s what it's been saying for years. It was in the 2015 nuclear accord President Trump pulled out of in his first term, declaring he could do a much better deal.
In this 14-point framework, the only hint of the shape of Iran's nuclear programme is the mention of “down- blending” Iran's 440 kg of uranium, enriched to some 60%, dangerously close to weapons-grade.
It’s a concession Iran made in the February 2026 talks in Geneva – two days before this war. There’s no mention of president Trump’s repeated demand that what he calls 'nuclear dust' is shipped to the United States.
If Iran wants a web of crippling sanctions lifted, and assets unfrozen, it needs to make concessions on dismantling its nuclear programme.
But what it already has in this framework is immediate waivers on exporting its crude oil, its petroleum products, and a $300bn “reconstruction fund” being put in place .
This morning Iran must be feeling quite confident and quite pleased about this deal.
We've had some reaction from Republican politicians in the US who have criticised the Iran deal.
Former US Vice-President Mike Pence says on X that the Memorandum of Understanding “does smack of the kind of appeasement that our administration rejected in the Obama-Iran nuclear deal."
He told Fox News he gave credit to Trump for launching the war, but he says the deal has no commitment to the dismantling of Iran's nuclear programme or to "end supporting terrorist proxies."
"I don't trust the Iranians," Pence adds.
Congressman Thomas Massie raises concerns about the $300bn fund earmarked in the deal for Iran, posting on social media that "$300 billion is 5 X as much as Congress spends on our roads & bridges annually."
For context: The text of the MOU says the $300bn will be developed with regional partners, and does not come from the US itself.
“Reagan is rolling over in his grave,” says Louisiana Republican Senator Bill Cassidy. "This is the worst foreign policy blunder in decades."
Iran has "learned that threatening the Strait of Hormuz works," and will do it again, he adds.
But others, such as South Carolina Senator Lindsay Graham are backing the deal. He has posted on X that it will create economic stability for the US and the world.
Donald Trump has taken to his Truth Social site to hit back against criticism that he has not been "tough enough" on Iran.
He says: "These fools, who think I haven’t been tough enough on Iran, when the Stock Market Just Hit A RECORD HIGH, and Oil prices are “tumbling” down, are either jealous, bad people, or stupid. MAKE AMERICA GREAT AGAIN!!! President DJT"
These images have been shared by the X account of the Government of the Islamic Republic of Iran and the Telegram account of Iran's Mehr news agency this morning.
They show Iranian President Masoud Pezeshkian signing the Memorandum of Understanding on behalf of Iran.
Iranian President Masoud Pezeshkian signed the memorandum on behalf of Iran
Pakistani Prime Minister Shehbaz Sharif has also shared photos of himself signing the memorandum as a mediator.
And you can see President Trump adding his signature in our video at the top of the page or in our previous post.
Pakistani Prime Minister Shehbaz Sharif also signed the memorandum
The director general of the International Atomic Energy Agency has said they are ready to figure out "concrete steps" to address Iran's nuclear programme.
As a reminder, within the current agreement between the US and Iran, Iran has recommitted to not procuring or developing nuclear weapons while both sides have agreed to deal with the enriched uranium Tehran already has.
In a briefing this morning, Rafael Grossi says that speculating about what might cause problems technically "is not wise".
"I initiate any negotiation on the assumption that we are all in good faith, that we want to be successful.
"If they have signed this […] it's because everybody wants this to be a success."
He adds the agency has a "pretty good idea" of the specific things and places the agency will need to access, but "it would be incorrect to step ahead of the process".
"We are at the gates of the decisive phase of the technical conversations."
Jeremy Bowen
International editor
Ships wait in the Gulf of Oman on Wednesday, preparing to transit through the Strait of Hormuz
When all this started on 28 February, Donald Trump and Benjamin Netanyahu said there was going to be a regime change.
And now we're at a point where the Iranian regime and the Americans, through intermediaries, did this deal essentially speaking to each other as equals.
We're looking at an empowered Iranian regime which has had its worst nightmare happen – a joint attack by the Americans and the Israelis aiming at a regime change. They got through it. It didn't happen.
Iran has spent billions over the years – first of all on their nuclear programme, which they have always denied was to do with getting a weapon – and also on building their network of regional allies, starting with Hezbollah in Lebanon.
But what they've found is that closing the Strait of Hormuz is way cheaper and way more potent. It's a weapon that can actually be used, unlike the threat of a nuclear weapon, which is about deterrence.
Just throwing a few missiles at a few tankers will once again re-close the Strait of Hormuz if Iran wanted to – and everybody knows that. And that is something that must be very empowering for the regime in Tehran.
Let's not forget Iran has taken an absolute hammering. They've got billions of dollars in damage that needs to be fixed. So actually, the economic inducements in the Memorandum of Understanding may push them towards thinking, let's do a deal on the nuclear issues.
A senior Israeli official close to prime minister Benjamin Netanyahu has told Reuters news agency that "stubborn negotiations" are ongoing between the US and Israel regarding Lebanon.
They added that Israel has no intention of backing down on its position of continuing its deployment of troops in Southern Lebanon.
Despite the Memorandum of Understanding stating that military operations would cease in Lebanon, as we reported in our previous post, Lebanese media is reporting strikes in the country.
Lebanese media is reporting Israeli strikes in the country, despite the US-Iran memorandum of understanding ruling them out.
Lebanon's state-run National News Agency (NNA) says a person was killed by an Israeli strike on a car in Kfar Tebnit, in the Nabatieh area in southern Lebanon this morning.
The agency also reported drone strikes in the towns of Beit Yahoun and Hadatha.
Earlier, the Israel Defence Forces (IDF) reported on Telegram that a soldier had been killed in an incident in southern Lebanon.
The IDF said on X: "Hezbollah continue spreading their terror across southern Lebanon, threatening our civilians and soldiers."
As we've been reporting, the memorandum of understanding signed by the US and Iran yesterday begins with the point: "The immediate and permanent termination of military operations on all fronts, including in Lebanon."
The Israeli government has yet to publicly respond to the US and Iran deal signing.
Shanaz Musafer
BBC business reporter
Oil prices have continued to fall this morning after the US and Iran signed a Memorandum of Understanding last night.
Apart from a brief spike on Wednesday, oil has been dropping since it emerged at the weekend that the two countries had agreed a framework deal to end the war and reopen the key Strait of Hormuz shipping route.
Brent crude, the global benchmark, began the week trading at about $86.80.
It’s currently trading at $77.90, down about 1.6% on the day.
The US-Iran agreement to extend the ceasefire centres around these 14 core points:
1. "The immediate and permanent termination of military operations on all fronts, including in Lebanon"
2. US and Iran to "respect each other’s sovereignty and territorial integrity and to refrain from interfering in each other’s internal affairs"
3. They "commit to negotiating and achieving the final deal in maximum 60 days, extendable with mutual consent"
4. Immediately, the US "will begin the removal of its naval blockade… and will fully end the naval blockade within 30 days"
5. In the Strait of Hormuz, Iran "will make arrangements using its best efforts for the safe passage of commercial vessels with no charge, for 60 days"
6. The US undertakes "with regional partners to develop a definitive, mutually agreed plan with at least USD $300 billion for the reconstruction and economic development of" Iran
7. US to "terminate all types of sanctions against" Iran
8. Iran "reaffirms that it shall not procure or develop nuclear weapons", but other parts of the programme are still to be negotiated. The two parties "agreed to discuss the issue of enrichment and other mutually agreed matters related to the Islamic Republic of Iran’s nuclear needs"
9. Pending the final deal, the US and Iran "agree to maintain the status quo"
10. Upon signing, and until the termination of sanctions, US Treasury will "issue waivers for the export of Iranian crude oil, petroleum products, and derivatives, and all associated services"
11. US undertakes "to make fully available for use the frozen or restricted funds and assets" of Iran
12. "An executive mechanism will be established to monitor the successful implementation" of this memorandum
13. After signing – subject to implementation of points 1, 4, 5, 10 and 11 – the US and Iran "will start negotiations regarding the final deal exclusively on the other paragraphs"
14. "The final deal will be endorsed by a binding UNSC (United Nations Security Council) resolution"
A new round of talks in Switzerland "remains under consideration", Iran's Foreign Ministry spokesperson Esmaeil Baqaei has said.
"Discussions are expected to continue through diplomatic channels and mediation efforts in the coming hours," a statement from the official social media account for the government adds.
Meanwhile, the Swiss government has indicated that representatives from the US and Iran will meet in Switzerland tomorrow for initial talks, according to a statement reported by the Reuters news agency.
"As things stand, the plan is still for the US and Iran, along with mediators Pakistan and Qatar and other involved countries, to meet tomorrow at Buergenstock for initial negotiations about implementing the agreement," the statement reads.
"No further information is currently available regarding the schedule and details of this meeting."
As a reminder, the official signing of the deal had been scheduled to take place in Switzerland on Friday – but an electronic version of the deal has already been signed by both countries and Trump signed a hard copy of the agreement yesterday.
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