President Donald Trump gave himself a birthday present on Sunday and declared that peace has been achieved after his second Iran war. “This Great Deal will bring Peace and Security to the whole Region. Many presidents have tried to make Peace with Iran, and all have failed before me,” he posted on Truth Social Sunday evening. “With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!”

Don’t break out the ticker tape just yet. This is not a treaty, not a deal, and not a peace agreement. It’s a memorandum of understanding to negotiate the terms of a broader peace over the next 60 days. Put another way, it is yet another ceasefire. In this respect, the agreement does not achieve any of the aims that Trump laid out on February 28 when he launched the second Iran war with Israel.