The United States on Thursday lifted its naval blockade of Iranian ports and coastal waters, implementing the first concrete step of a hastily arranged memorandum of understanding signed by President Donald Trump and his Iranian counterpart Masoud Pezeshkian. The US Central Command confirmed that all maritime traffic entering and leaving Iranian ports in the Persian Gulf and Gulf of Oman was now unimpeded, though American warships would remain in the region to monitor compliance. Vice President JD Vance said more than a dozen vessels had already passed through the blockade line, and 12.5 million barrels of oil transited the Strait of Hormuz on Wednesday night — the highest volume since the conflict began. Iran, he noted, had ceased firing on commercial shipping for two consecutive nights.

The 14-point accord, brokered in part by Pakistani mediator Shehbaz Sharif and dubbed the ‘Islamabad MOU’, was signed electronically after a dramatic candlelit ceremony at the Palace of Versailles, where Trump put his signature to the document alongside French President Emmanuel Macron. It commits both sides to an immediate and permanent cessation of hostilities on all fronts, including Lebanon, and sets out a framework for a 60-day negotiation period to thrash out a “final” agreement covering Iran’s nuclear programme, sanctions relief, and the withdrawal of US forces from around Iran within 30 days. Oil prices tumbled on the news, and stock markets hit record highs, offering a measure of relief to a global economy rattled by three months of disruption to the vital waterway.

Viewed from Washington, the deal has ignited a fierce political backlash. Trump lashed out at critics — including members of his own party — as “fools”, “jealous”, and “bad people” for suggesting he had conceded too much to Tehran. Vice President Vance, in an impromptu White House briefing, defended the agreement as already delivering results for the American people and issued an extraordinary public rebuke to Israel, warning it against “attacking the only powerful ally” it has left. In Tehran, state-aligned media framed the MOU as a victory, while independent analysts across the Middle East and Europe cautioned that the terms heavily favour Iran and rest on fragile ground.

The real test now shifts to Switzerland, where talks on the final settlement are due to begin, though it remains unclear whether US and Iranian officials will meet face-to-face given the absence of diplomatic relations since 1979. The interim deal’s ambiguity on key questions — including the sequencing of sanctions lifting and the scope of nuclear concessions — leaves ample room for derailment. With Israel openly defiant and domestic opposition simmering in Washington, the 60-day clock is ticking on what many view as an uncertain path from ceasefire to lasting peace.