U.S.-Iran ceasefire memorandum takes effect immediately; Switzerland signing ceremony skipped

[Financial News] The ceasefire memorandum between the United States and Iran took effect earlier than expected, and the official signing ceremony scheduled for the 19th (local time) in Switzerland will not be held.
Iran International, a dissident Iranian outlet based in the United Kingdom, reported on the 18th (local time), citing Iranian media, that Iran's Foreign Ministry spokesperson Esmaeil Baghaei said in an interview with state broadcaster, "The presidents of Iran and the United States have just signed the ceasefire memorandum through remote electronic means."
He explained, "Documents signed directly by the top officials of both countries make it more costly politically to violate them," adding, "Given past experience, we judged this approach to be more desirable."
Baghaei said, "Because the memorandum has already been signed digitally, no separate official signing ceremony will be held in Switzerland," and added, "We concluded that holding a formal event was not absolutely necessary." He added, however, that "the plan for the Geneva visit by the negotiating delegations from both countries remains unchanged."
Earlier, U.S. President Donald Trump announced on the 14th that the two sides had agreed on a ceasefire memorandum and said an official signing ceremony would be held on the 19th. On the 16th, the Swiss Foreign Ministry said the ceremony was expected to take place in Bürgenstock, a resort town in central Switzerland.
U.S. Vice President JD Vance said in an interview on the 15th that both sides had electronically signed the memorandum on the 14th, but that a separate in-person signing ceremony would be held on the 19th. The electronic signing took place with Trump, Vance, and Mohammad Bagher Ghalibaf, the speaker of Iran's parliament and head of its ceasefire negotiating delegation, participating.
The in-person signing ceremony became controversial because of the timing of the memorandum's entry into force. On the 15th, Iran's deputy foreign minister Kazem Gharibabadi claimed that U.S. obligations under the memorandum, including a halt to hostilities on all fronts and the lifting of the blockade on Iranian ports, took effect from the 15th, while Iran's obligations would begin with the signing ceremony on the 19th.
In this regard, a White House official told local media outlets including Axios on the 17th that the memorandum had already taken effect. The official explained that discussions had taken place to move up the signing time so that the Strait of Hormuz could be opened before the 19th. Axios reported that the U.S. delegation led by Vance and Ghalibaf's Iranian negotiating team are still scheduled to hold talks in Switzerland on the 19th as planned.
Axios reporter Barak Ravid said on X that "Trump signed it while having dinner with French President Emmanuel Macron at the Palace of Versailles, and a photo of the signed document was delivered to Iran and the mediators." CNN reported that Trump and Vance electronically signed the ceasefire memorandum on the 14th, but signed the physical copy of the agreement in person on the 17th.
 

pjw@fnnews.com Reporter Park Jong-won Reporter