The Trump administration and Iran have agreed to a 14-point memorandum of understanding that includes an immediate waiver of certain US restrictions on Iranian oil exports and establishes a $300 billion private investment fund. The deal ends the 110-day US-Israel conflict on Iran that began in late February 2026 and includes reopening the Strait of Hormuz. Multiple outlets including NBC and The Guardian have reported the deal details from official government sources, though the formal text won't be signed until later this week.