Islamabad Memorandum - Wikipedia
The memorandum is a 14-point "framework agreement"[12][13] and provides for an end to military strikes, the reopening of the Strait of Hormuz to commercial shipping toll-free for 60 days,[14] an end to the U.S. naval blockade of Iranian ports, and a 60-day extension of the ceasefire.[12] Iran indicated that it intended to charge fees for unspecified services to ships transiting through the Strait of Hormuz, though analysts questioned whether this would be legal.[15] Subject to a final deal, the Islamabad Memorandum would also include an at least $300 billion private fund designed to trigger investment in Iran in addition to the release of frozen Iranian assets.[16][17]
The Islamabad Memorandum also immediately waives, but does not eliminate, sanctions that Trump imposed on Iran's oil exports, allowing Iran once again to sell its crude on the world market and restoring a revenue stream worth hundreds of billions of dollars.[18] Major issues, however, were not settled in the framework agreement, which contains no accord on Iran's nuclear program or uranium stockpiles, although it does call for the downgrading of Iranian uranium from weapons-grade to reactor-grade following a final agreement.[12][19] These issues are deferred to future talks to take place over the 60-day ceasefire extension.[12] The framework agreement also does not mention the Iranian ballistic missile program or its network of non-state allies in the Middle East.[20]
Israel was not part of the U.S.-Iran negotiations over the MOU, and Israeli officials indicated that military operations will continue in Lebanon regardless of the MOU wording.[58] Israel bombed Beirut twice during the U.S.-Iran negotiations, nearly derailing the negotiations each time.[59][60]
After the preliminary MOU was signed, Pakistan and Iran said that the ceasefire halts "military operations on all fronts, including Lebanon, effective immediately" but Israel rejected this contention.[4][20] Israeli Prime Minister Benjamin Netanyahu and the rest of his government said that Israel was not bound by the agreement, with Netanyahu saying that the country would "preserve its freedom of action" against threats from Hezbollah in Lebanon.[20] While combat between Israel and Hezbollah was dialed back in the immediate aftermath of the memorandum's signing, the Hezbollah–Israel conflict continued.[20] Israel conducted a strike south of Beirut on June 14.[61] Israeli defense minister Israel Katz said that Israeli forces would remain in the territory in southern Lebanon seized since the start of the war,[62][63] adding that the 200,000 displaced Lebanese residents from the security zone would never be allowed to return.[64] Israeli national security minister Itamar Ben-Gvir rejected the memorandum, stating that Israel was "not subordinate to the United States" and that its security was "not up for bargaining".[64][65] Following the deaths of four Israeli soldiers in southern Lebanon, Ben-Gvir called for Lebanon to be "obliterated" and posted on X that "all of Lebanon must burn."[66][64][65] Finance minister Bezalel Smotrich similarly called for "opening the gates of hell" in Lebanon, repeating rhetoric he had previously used in March 2025 regarding the Gaza Strip.[64] A report by the Israeli outlet Channel 14 reported that Netanyahu refused a request by Vance to scale back the IDF's presence in Lebanon.[67]