U.S President Donald Trump and Iran’s President Masoud Pezeshkian signed a deal on Wednesday to end the ongoing war in West Asia. According to reports, Iran has agreed to dilute its enriched uranium in exchange for large-scale economic relief.
A U.S official told AFP that Trump signed the memorandum of understanding during dinner with French President Emmanuel Macron at the Palace of Versailles after the G7 summit.
Iranian state news agency IRNA cited Foreign Ministry spokesman Esmaeil Baqaei that the document “was finalised with the signatures of the Presidents”.
“Now it is time to test the implementation of the agreement,” he said.
As per the agreement, the United States will immediately waive oil sanctions on the Islamic Republic. Washington will also facilitate the release of a $300 billion reconstruction fund supported by regional nations once a final agreement is reached on Tehran’s nuclear program.
Earlier reports had said the deal would be signed by Iran’s top negotiator and Parliament Speaker Mohammad Bagher Ghalibaf and U.S Vice President JD Vance in Geneva on Friday. However, Iran has said an in-person ceremony was no longer needed.
The reopening of the Strait of Hormuz would be the first step during the two-month negotiation period that follows the deal.
According to U.S officials, Iran has agreed to dilute its stockpile of enriched uranium, possibly by “down-blending on site under the supervision of the International Atomic Energy Agency (IAEA)”.
In return, the United States is expected to facilitate economic assistance of $300 billion to Iran, although a U.S official said Washington would not be required to contribute financially.
The Lebanon question
A major clause of the deal was the halt in hostilities in Lebanon, which has been under continuous bombing by the Israeli Defence Forces (IDF) in the fight against the Iran-backed militant group Hezbollah. However, Israel has continued to strike Lebanon even after the announcement of the peace agreement, with at least five civilians being killed in the southern part of the country.
Israel also reportedly raided southern Lebanon on Wednesday, with its army claiming the injury of its five soldiers. According to the Israeli army, one soldier was severely wounded “as a result of an explosive drone impact in southern Lebanon”.
The Israeli military also said its air force intercepted rockets launched towards its soldiers in south Lebanon, although no casualties have been reported.
