Vance and Ghalibaf digitally signed the Islamabad Memorandum on Monday, naming the deal at last. Twenty-four hours later the White House actions index, OFAC and the Federal Register still carried nothing on Iran. Hormuz logged two transits against 94 a day before the war, Hezbollah fired on Israeli troops the day of signing, and 60 Iranian MPs demanded their speaker explain his signature.
The Islamabad MOU is signed but every actor who must implement it has signalled non-compliance.
Vance and Ghalibaf digitally signed the Islamabad Memorandum on Monday 15 June, the first Iran instrument either side has put a signature to in 108 days of war. A day later the White House actions index, OFAC and the Federal Register still carried nothing on Iran.
United StatesJD Vance and Iranian parliament speaker Mohammad Bagher Ghalibaf digitally signed the Islamabad Memorandum of Understanding on 15 June. Twenty-four hours later, the White House Presidential Actions index, OFAC (the US sanctions bureau), and the Federal Register each carried no Iran entry.
Without a published sanctions waiver, Iran's frozen assets stay frozen and oil restrictions remain in force. The signing exists on paper; no implementing instrument has followed.
Hezbollah fired anti-tank missiles and mortars at Israeli troops in southern Lebanon across 15-16 June, hours after the digital signing. Araghchi said any continued Israeli presence in Lebanon would break the memorandum.
IsraelHezbollah fired on Israeli Defence Forces positions in southern Lebanon on 15-16 June; Israel struck back four times. Iranian Foreign Minister Araghchi said continued Israeli troop presence in Lebanon broke the agreement.
A US official gave two incompatible readings of the Lebanon clause on 16 June. First: the deal was not conditioned on Israeli withdrawal. Then: it envisioned a ceasefire covering Lebanon. That contradiction is the active dispute before Geneva on 19 June.
Two ships transited the Strait of Hormuz across 15-16 June, against a pre-war rate of 94 a day. The memorandum promises a full reopening on Friday, yet not one major operator has routed a tanker through on the strength of it.
United KingdomOnly two ships transited the strait of Hormuz on 15-16 June, against a pre-war daily rate of 94. Protection-and-indemnity insurance clubs refused to cover Hormuz crossings while the Islamic Revolutionary Guard Corps' Persian Gulf Strait Authority remained in operation after the signing.
Brent Crude settled at $83.61, down 4.3 per cent. Operators said they would wait weeks. The insurer trigger for restored cover is a published safety framework or UN resolution, neither of which the deal provides.
Netanyahu said Israel had been saved from annihilation, then admitted he had not read the memorandum's text. Ben-Gvir called it non-binding; Smotrich demanded Beirut demolitions; Gantz called the whole thing a strategic failure.
United StatesNetanyahu said Israel 'saved itself from annihilation' on 15 June but admitted he had not read the agreement's text. National Security Minister Ben-Gvir said the deal does not bind Israel; Finance Minister Smotrich called for ten Beirut buildings destroyed per Hezbollah drone.
Opposition leader Gantz called it a 'strategic failure'. Israel received no advance text and was not a party to the Islamabad negotiations.
Around 60 members of Iran's Majlis signed a letter demanding Ghalibaf explain why he put his name to the memorandum, roughly a fifth of the 290-seat chamber. One MP said renaming a treaty a memorandum changes nothing binding.
FranceAround 60 of Iran's 290 Majlis members signed a letter on 15 June demanding Parliament speaker Mohammad Bagher Ghalibaf explain why he signed the Islamabad memorandum. Paydari faction member Amirhossein Sabeti said the deal violated Khamenei's stated red lines.
Member Abolfazl Aboutorabi argued the document imposed binding obligations regardless of its name. President Pezeshkian defended his negotiators. Khamenei communicates only by sealed courier and has not endorsed the agreement.
Mehr News, an Iranian state-affiliated outlet, published a 14-point version of the memorandum on 14 June listing $24 billion in frozen assets freed and $300 billion in reconstruction. No US or Iranian official confirmed it; Al Jazeera and Iran International could not verify it.
United KingdomMehr News Agency, an Iranian state-linked outlet, published a claimed 14-point deal term list on 14 June. It included $24 billion in frozen assets freed, oil sanctions suspended, a blockade lifted within 30 days, and $300 billion in reconstruction. No official confirmed the draft.
Al Jazeera and Iran International each said they could not verify the list. The $300 billion figure has no precedent in any US-Iran framework and exceeds Iran's annual economic output.
The G7 summit at Kananaskis in Alberta closed without a joint communique, an unusual breakdown for a body whose entire output is consensus text. Trump left early as the Iran deal moved; Macron and Trump then contradicted each other on whether the summit mattered.
The G7 summit at Kananaskis, Alberta, ended on 15 June without a joint communique. Trump left early as the Iran deal moved; leaders produced only a vigilance statement on energy and a reaffirmation of Israel's right to self-defence.
Macron credited G7 pressure with accelerating the ceasefire. Trump denied any G7 role. France, Germany and the United Kingdom now have no shared published position to attach to the Islamabad agreement before Geneva on 19 June.
Vance said IAEA inspectors will absolutely return to Iran under the memorandum, with a start date to be fixed at Friday's ceremony. No date was set. The agency had already declared it could no longer account for 440.9kg of Iranian highly enriched uranium.
United States×2Vance said on 15 June that International Atomic Energy Agency (IAEA) inspectors would return to Iran. A start date will be set at the Geneva ceremony on 19 June; none was announced on signing day.
The IAEA declared loss of continuity on Iran's nuclear stockpile after 97 days locked out. Roughly 240 kilograms of Iran's 440.9 kg of highly enriched uranium remain unlocated. A 60-day nuclear deferral means access terms will not be finalised until a separate negotiation begins.
Sideways, with a downside tail before 19 June. OFAC's last Iran action was 5 June; if the agency publishes no sanctions relief or general licence by 18 June, commercial shippers and P&I insurers will treat the memorandum as having the same operational status as Trump's 14 June Truth Social post: declared but not enacted. The IRGC Persian Gulf Strait Authority, operational since 5 May 2026 and collecting $1.5-2 million per VLCC in crypto, is the on-water mechanism OFAC must address to move the Hormuz vessel count above two per day. The named decision point is the Geneva ceremony on 19 June 2026.
