On Wednesday 17 June, at the Palace of Versailles, where a reception was being held to celebrate the 250th anniversary of US independence, Donald Trump signed the memorandum of understanding intended to bring an end to the war that has been raging in the Middle East since the Israeli-American offensive on 28 February. The text provides, in particular, for a ceasefire on all fronts (including Lebanon), the reopening of the Strait of Hormuz and two months of negotiations to address the most sensitive issues: Iran’s renunciation of nuclear weapons, US economic sanctions and the management of the Strait of Hormuz. In other words, the contentious issues remain unresolved… especially as the agreement – which Donald Trump nevertheless presents as his victory – appears to be particularly favourable to Iran, particularly in financial terms. The Iranian people, for their part, are the main losers in this war, which has only served to increase the death toll and harden the regime in Tehran.