U.S. President Donald Trump stated that the United States and Iran are expected to sign a memorandum of understanding in Switzerland aimed at ending conflict in the Middle East and preventing Tehran from acquiring a nuclear weapon, with the possibility of converting the arrangement into a permanent agreement.

Trump said Washington had achieved military objectives against Iran in the initial phase of the confrontation and warned that operations could resume if Tehran fails to meet its commitments.

According to reported leaks, the proposed agreement contains 14 provisions, including the resumption of Iranian oil exports and the reorganization of Iran’s nuclear program. Reports have also pointed to improving maritime traffic through the Strait of Hormuz and declining global oil prices.