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Notes -
This is a fair outsider perspective but I stand by my arguments for why it's valid to omit.
There has, to my knowledge, never been a serious Iranian discussion of the toll regime (as opposed to just closing the Strait) before this war which they did not choose. They rolled out tolls as a financial cope and negotiating tactic well under attack, after they learned that Hormuz denial is indeed very effective even though their fleet is gone. I tend to agree with Noah Smith of all people that "Before the war, Iran didn’t control the strait, simply because it didn’t realize it could. Drone technology had advanced to the point where Iran was able to shut down Hormuz, but Iran didn’t know that until the U.S. attack forced it to try the risky and desperate move of actually shutting down the strait.". Of course, war aims can change, so now they pursue legitimization of the toll booth through MOU negotiations, because come on, it's an awesome new revenue source and influence lever. But it was not part of their core objectives and strategic thinking (and neither was sinking their Navy for the US). To be clear I think they might win this, too, but I wouldn't weigh it heavily either way.
Guess I have to agree to disagree. The MOU is extremely close to the original Iranian counter-proposal they published in response to Kushner&Witkoff's "deal" (terms of capitulation). That the US saw it fit to sign on to this shows that the US is really weary of the war and willing to end it on net unfavorable terms. Of course, Trump being Trump, he might just ignore the reputational damage and risks of Iranian gains solidifying for a few weeks of open Strait and US forces regrouping, and secretly intends to defect on most terms. But on the sum of evidence so far (eg Israel and Lebanon related noises), I do believe he strongly prefers to not continue in the short-medium term, so it is an end to, at least, the First US-Iran war, and the actual terms of it having been concluded.
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