June 15, 2026
Dave DeCamp
An unnamed US official also told reporters on Monday that the agreement was signed by Vance, President Trump, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf, though so far that hasn’t been confirmed by Tehran.
In a series of interviews, Vance denied Iranian media claims that Iran would immediately gain access to $12 billion in its frozen funds, but he did suggest Tehran could eventually have access to a major Gulf-funded reconstruction fund.
“That’s the sort of thing they could have access to, funded by the Gulf coast coalition, so long as they honor their end of the obligation,” Vance said in an interview on CBS News when asked about reports of a potential $300 billion reconstruction fund.
The message from Iranian officials on Monday was that the deal is a “victory” for Iran, though they stressed that fulfilling the MOU hinges on whether there is an end to Israel’s war in Lebanon, where Israeli attacks continued on Monday.
The Friday signing ceremony is expected to start a 60-day period during which the US and Iran will negotiate other issues, including Iran’s nuclear program. Vance said the US would lift sanctions on Iran if a nuclear deal is reached, though the two sides still appear to be far apart on the terms.
“If the Iranians are willing to give a long-term commitment — along with proper verification — to giving up that nuclear weapon, we’re willing to welcome them into the world economy to lift some sanctions and to turn over a new leaf in that relationship,” Vance said on Good Morning America.
Iran has always maintained that it doesn’t seek nuclear weapons, and there was no evidence before either the June 2025 war or the current conflict that it was pursuing a nuclear bomb.
In the lead-up to the February 28 joint US-Israeli attack on Iran, Vance became one of the leading voices in the administration who was making the claim that the coming conflict was about preventing Iran from developing a nuclear bomb, contradicting President Trump’s insistence that US airstrikes in June 2025 “obliterated” Iran’s nuclear program. At one point, Vance even claimed there was evidence Iran was trying to “rebuild a nuclear weapon,” something Iran has never had.
The US military said in an advisory to merchant ships on Monday that the US blockade on Iranian ports remains in effect “pending execution” of a ceasefire deal between the US and Iran, The Hill has reported, a notice that contradicts President Trump’s declaration that the blockade has been lifted.
The MOU will be officially signed on Friday to begin nuclear negotiations, but the end of the US blockade and the opening of the Strait of Hormuz were supposed to take effect immediately. Iranian media reported on Monday that several ships had made it to Iranian ports and that the blockade had been officially lifted, but the US military’s advisory suggested there was still a threat to commercial ships entering and leaving Iranian ports.
The aircraft carrier USS Abraham Lincoln in the Arabian Sea on May 29, 2026
“A military blockade of Iranian ports remains in effect, restricting all traffic inbound and outbound from these ports. Do not attempt to cross until explicit direction is given,” the notice said, according to Reuters.
The notice told ship captains to consider “the health and safety of their crews,” warning that failure to comply with US orders “may result in rapid escalation to disabling or destructive fire.” The US bombed at least nine civilian commercial ships in its enforcement of the blockade since April, and one attack last week killed three Indian mariners.
Also on Monday, US officials told reporters that the US would maintain its current military posture in the Middle East and suggested it won’t pull any troops out of the region until some sort of nuclear deal is reached.
“We want to see again the Iranians do what they promise they’re going to tell us that they’re going to do, and the agreement contemplates the reduction of military forces in the region upon the agreement of a final deal, which again is the agreement that we assume we can make, so long as the Iranians make some concessions and give up some of their activities and some of their nuclear program,” a senior Trump official said.
Iranian Foreign Minister Abbas Araghchi on Monday said that talks with the US on Iran’s nuclear program and the lifting of US sanctions on the Islamic Republic will begin in Switzerland on Friday after the signing of the Memorandum of Understanding (MOU) meant to end the conflict in the region.
US officials said on Monday that the MOU has been signed “digitally,” but it will be formalized this Friday during a ceremony in Geneva that will be hosted by Pakistan, which served as a mediator between the two sides.
“On Friday, a meeting between the heads of the delegations of the two sides is likely to take place in Switzerland, and an MOU between Iran and the US will be signed, followed by the first round of subsequent negotiations,” Araghchi said, according to Iran’s Mehr news agency.
The formal signing of the MOU will begin a 60-day period of negotiations, which can be extended. Araghchi said that Iran is going into the talks with caution due to the US history regarding agreements with Iran.
“We have a history of broken promises, non-compliance, and the tearing up of agreements,” the Iranian diplomat said. Iran had been bombed twice, in June 2025 at the start of the 12-Day War, and on February 28 of this year by the US and Israel, while engaged in negotiations with the US.
Araghchi, Iranian Parliament Speaker Mohammad Bagher Ghalibaf, and US Vice President JD Vance are expected to attend the ceremony in Geneva, though the delegations haven’t yet been confirmed by either side.
The main obstacle to sealing the MOU and starting the negotiations appears to be Israel, as it refused to withdraw from southern Lebanon and continued attacks there on Monday, despite an end to the Israeli war in the country being included as part of the agreement.
Dave DeCamp
The vice president
said that Tehran could eventually gain access to a major Gulf-funded
reconstruction fund
Vice President JD
Vance said on Monday that a Memorandum of Understanding to end the war between
the US and Iran had already been signed “digitally” on Sunday night and that
the text would be released in the coming days, though an official signing
ceremony is still expected to take place this Friday in Geneva.
An unnamed US official also told reporters on Monday that the agreement was signed by Vance, President Trump, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf, though so far that hasn’t been confirmed by Tehran.
In a series of interviews, Vance denied Iranian media claims that Iran would immediately gain access to $12 billion in its frozen funds, but he did suggest Tehran could eventually have access to a major Gulf-funded reconstruction fund.
“That’s the sort of thing they could have access to, funded by the Gulf coast coalition, so long as they honor their end of the obligation,” Vance said in an interview on CBS News when asked about reports of a potential $300 billion reconstruction fund.
The message from Iranian officials on Monday was that the deal is a “victory” for Iran, though they stressed that fulfilling the MOU hinges on whether there is an end to Israel’s war in Lebanon, where Israeli attacks continued on Monday.
The Friday signing ceremony is expected to start a 60-day period during which the US and Iran will negotiate other issues, including Iran’s nuclear program. Vance said the US would lift sanctions on Iran if a nuclear deal is reached, though the two sides still appear to be far apart on the terms.
“If the Iranians are willing to give a long-term commitment — along with proper verification — to giving up that nuclear weapon, we’re willing to welcome them into the world economy to lift some sanctions and to turn over a new leaf in that relationship,” Vance said on Good Morning America.
Iran has always maintained that it doesn’t seek nuclear weapons, and there was no evidence before either the June 2025 war or the current conflict that it was pursuing a nuclear bomb.
In the lead-up to the February 28 joint US-Israeli attack on Iran, Vance became one of the leading voices in the administration who was making the claim that the coming conflict was about preventing Iran from developing a nuclear bomb, contradicting President Trump’s insistence that US airstrikes in June 2025 “obliterated” Iran’s nuclear program. At one point, Vance even claimed there was evidence Iran was trying to “rebuild a nuclear weapon,” something Iran has never had.
The US military said in an advisory to merchant ships on Monday that the US blockade on Iranian ports remains in effect “pending execution” of a ceasefire deal between the US and Iran, The Hill has reported, a notice that contradicts President Trump’s declaration that the blockade has been lifted.
The MOU will be officially signed on Friday to begin nuclear negotiations, but the end of the US blockade and the opening of the Strait of Hormuz were supposed to take effect immediately. Iranian media reported on Monday that several ships had made it to Iranian ports and that the blockade had been officially lifted, but the US military’s advisory suggested there was still a threat to commercial ships entering and leaving Iranian ports.
The aircraft carrier USS Abraham Lincoln in the Arabian Sea on May 29, 2026
“A military blockade of Iranian ports remains in effect, restricting all traffic inbound and outbound from these ports. Do not attempt to cross until explicit direction is given,” the notice said, according to Reuters.
The notice told ship captains to consider “the health and safety of their crews,” warning that failure to comply with US orders “may result in rapid escalation to disabling or destructive fire.” The US bombed at least nine civilian commercial ships in its enforcement of the blockade since April, and one attack last week killed three Indian mariners.
Also on Monday, US officials told reporters that the US would maintain its current military posture in the Middle East and suggested it won’t pull any troops out of the region until some sort of nuclear deal is reached.
“We want to see again the Iranians do what they promise they’re going to tell us that they’re going to do, and the agreement contemplates the reduction of military forces in the region upon the agreement of a final deal, which again is the agreement that we assume we can make, so long as the Iranians make some concessions and give up some of their activities and some of their nuclear program,” a senior Trump official said.
Iranian Foreign Minister Abbas Araghchi on Monday said that talks with the US on Iran’s nuclear program and the lifting of US sanctions on the Islamic Republic will begin in Switzerland on Friday after the signing of the Memorandum of Understanding (MOU) meant to end the conflict in the region.
US officials said on Monday that the MOU has been signed “digitally,” but it will be formalized this Friday during a ceremony in Geneva that will be hosted by Pakistan, which served as a mediator between the two sides.
“On Friday, a meeting between the heads of the delegations of the two sides is likely to take place in Switzerland, and an MOU between Iran and the US will be signed, followed by the first round of subsequent negotiations,” Araghchi said, according to Iran’s Mehr news agency.
The formal signing of the MOU will begin a 60-day period of negotiations, which can be extended. Araghchi said that Iran is going into the talks with caution due to the US history regarding agreements with Iran.
“We have a history of broken promises, non-compliance, and the tearing up of agreements,” the Iranian diplomat said. Iran had been bombed twice, in June 2025 at the start of the 12-Day War, and on February 28 of this year by the US and Israel, while engaged in negotiations with the US.
Araghchi, Iranian Parliament Speaker Mohammad Bagher Ghalibaf, and US Vice President JD Vance are expected to attend the ceremony in Geneva, though the delegations haven’t yet been confirmed by either side.
The main obstacle to sealing the MOU and starting the negotiations appears to be Israel, as it refused to withdraw from southern Lebanon and continued attacks there on Monday, despite an end to the Israeli war in the country being included as part of the agreement.
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