Iran and the United States have reportedly signed a Memorandum of Understanding (MoU) aimed at de-escalating tensions and ending ongoing conflict. The agreement, signed by Donald Trump and Iranian presidential candidate Mostafa Pezeshkian, immediately halts hostilities, specifically referencing an end to fighting in Lebanon. A key component of the MoU is the reopening of the Strait of Hormuz, a critical waterway for global oil transport, which had been a focal point of recent tensions. Both Iranian and US officials confirm the deal is now in effect. Details beyond the cessation of conflict and the reopening of the Strait remain scarce. The agreement represents a significant, though currently limited, step towards easing geopolitical instability in the region.