Iran and the United States have reportedly reached an agreement to halt hostilities across all fronts, according to details released by Iran’s state news agency, IRNA. The deal, formalized in a Memorandum of Understanding (MoU), also stipulates the end of naval blockades in the Gulf region. Details of the agreement were published by IRNA on Wednesday, coinciding with the release of the text by a U.S. official. The MoU is scheduled to be officially signed on Friday. This agreement signals a potential de-escalation of tensions that have long plagued the region, particularly concerning maritime security. Both nations have seemingly agreed to cease actions contributing to instability in the Gulf. The specifics of implementation and verification remain to be seen following the signing.