The 14-article memorandum of understanding, signed during the 2025-2026 Iranian revolution, declares an immediate end to the war, lifts the naval blockade, reopens the Strait of Hormuz, and provides exemptions for Iran's oil and petrochemical exports, banking, insurance, and transportation services, along with the release of frozen assets and a commitment of at least $300 billion for reconstruction from the United States and its regional partners.