The United States and Iran have signed a memorandum of understanding that establishes a 60-day extended ceasefire, according to a White House official. The document, read to reporters on Wednesday and signed by both presidents that day, includes commitments that Iran will never develop a nuclear weapon and that its existing stockpile of enriched uranium will be downblended on site under International Atomic Energy Agency supervision. Iranian Foreign Minister Abbas Araghchi stated that ending the war on all fronts, including Lebanon, is the most important issue in the peace memorandum with the U.S. Iran says the ending of the war in Lebanon is an inseparable part of the agreement between Iran and the United States, according to PressTV. An Iranian official, as reported by WTAE, said the deal would also require Israel to withdraw from Lebanon. Despite a stated truce in Lebanon, CNN reported that Israel continues to exchange fire with Hezbollah, and dozens of people have been killed by Israeli strikes in Lebanon over the past two days. Iran closed the Strait of Hormuz in response to renewed Israeli strikes in Lebanon, according to other sources. The U.S. military denied Iran’s claim to control the Strait of Hormuz, as reported by CNN. President Donald Trump announced 'major combat operations' against Iran on Feb. 28, followed by massive joint U.S.-Israeli strikes targeting military, government, and infrastructure sites, according to ABC News. Trump also announced the open-ended extension of the ceasefire and the continuation of a U.S. blockade until negotiations concluded, and declared that the U.S. and Iran had reached a 'great deal.' Trump threatened to impose U.S. tolls in the Strait of Hormuz if a deal with Tehran is not ultimately reached, according to CNN. Vice President JD Vance is en route to Switzerland for talks between the U.S. and Iran, as reported by ABC News.