President Donald Trump and Vice President JD Vance signed a memorandum of understanding with Iran to end hostilities and reopen the Strait of Hormuz.The agreement conditions future sanctions relief and reconstruction funds on Iran dismantling its nuclear stockpile and permitting international inspections.A formal signing ceremony is scheduled for June 19 in Switzerland, marking the first direct diplomatic engagement between the two countries in forty-seven years.White House officials emphasized that no US funds have been transferred and that compliance remains the primary requirement for further economic progress.