Donald Trump has just left the Palace of Versailles in France, where he dined with French President Emmanuel Macron following the G7 summit.
When asked about the agreement before entering the presidential motorcade, Trump told reporters: “Signed. We signed it in Versailles. I just signed it.”
Donald Trump leaves the Palace of Versailles after dinner – Photo: Mandel Ngan / AFP
According to photos published by Iranian state media, the document was also signed by President Masoud Peszeskján.
As it stands, the memorandum of understanding calls for Iran to never have nuclear weapons and calls for the creation of a $300 billion fund for the country’s “reconstruction and economic development,” although the United States is not required to contribute.
The most important points of the declaration of intent are the following:
- The agreement calls for an “immediate and definitive end to military operations on all fronts,” including Lebanon.
- The United States and Iran agree to negotiate and reach a final agreement within no more than 60 days, which may be extended by mutual agreement.
- The United States will lift its maritime blockade against Iran within 30 days. In addition, the US “further commits to withdraw its forces from the vicinity of the Islamic Republic of Iran within 30 days of the conclusion of the final agreement.”
- The Strait of Hormuz will reopen and remain toll-free for 60 days, after which, according to a senior official, “Iran will work not only with Oman but also with the Gulf states to develop a broader, longer-term agreement on the Strait of Hormuz.”
- The United States, along with its regional partners, has pledged to create a fund of at least $300 billion “for the reconstruction and economic development of the Islamic Republic of Iran.”
- The United States “commits to lifting all sanctions against the Islamic Republic of Iran,” although a timetable has yet to be agreed upon.
