US, Iran sign nuclear pact to end war, reopen Strait of Hormuz - senior US official

A senior United States official said on Monday the US has signed a memorandum of understanding with Iran to end a four-month conflict, outlining a phased framework linking economic measures, nuclear verification and regional security commitments.

The memorandum of understanding was signed by President Donald Trump and Vice President JD Vance on the US side and by Iranian Parliament Speaker Mohammad Bagher Ghalibaf on behalf of Tehran, a senior US official told reporters during a briefing.

Speaking at the briefing, the official said the memorandum "provides a structure for how our negotiation, our relationship will operate in the future."

"The more that the Iranians are willing to work with us on their nuclear program, on verifying that they're not building a nuclear weapon, on not funding radicalism and terrorism in the region, the more that they're going to be welcomed into the world economy," the senior official added.

On the Strait of Hormuz, the official said traffic is already beginning to increase but cautioned that a full return to normal is unlikely within two weeks due to mines and varying crew risk tolerances.

"You will see a significant increase in traffic in the Strait of Hormuz, actually starting already," the official said.

- Agreement details to be released within 24-48 hours

The US official said all agreement details would be released within 24 to 48 hours, with technical discussions launching later this week under Vice President JD Vance's leadership.

On reports about the release of frozen Iranian funds, including a potential $300 billion reconstruction fund, the official said the issue was discussed but "all of these things are going to be tied to performance."

"You can't give them access to their funds or release funds to them if they're just going to use that money to fund terrorism and more instability in the region," the official added.