The Day: Thursday, June 19, 2026 (#60)

Fri, 19 Jun 2026 16:00:00 -0500

The United States and Iran signed a memorandum of understanding in Switzerland on Thursday, formally completing the agreement to end the three-and-a-half-month conflict that closed the Strait of Hormuz and sent shockwaves through global oil markets, according to NPR.

The 14-point text commits both sides to an immediate ceasefire and to lifting their respective blockades on maritime traffic through the strait. Commercial shipping is expected to resume within 48 hours. The agreement calls for the immediate termination of military operations on all fronts, including in Lebanon. On the nuclear question, Iran reiterated its existing pledge not to develop nuclear weapons and agreed to 60 days of technical negotiations with the United States on the status of its highly enriched uranium stockpile and its enrichment capacity. In exchange, Iran will receive access to billions of dollars in frozen assets and sanctions relief. Al Jazeera reported the full structure of the 14-point plan, noting that experts say significant questions remain unanswered. The 60-day nuclear window is where the harder work begins.

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The Day: Thursday, June 19, 2026 (#60)