President Donald Trump said the deal blocks Iran from developing a nuclear weapon, although Tehran maintains its nuclear program is peaceful
The United States and Iran have reached an interim agreement aimed at ending the Middle East conflict and creating space for a permanent peace deal.
The memorandum extends the current ceasefire by 60 days and allows both sides to continue negotiations.
Under the agreement, the US will lift its blockade of Iranian ports, while Iran will restore shipping through the Strait of Hormuz. President Donald Trump said the deal blocks Iran from developing a nuclear weapon, although Tehran maintains its nuclear program is peaceful.
The agreement also allows Iran to resume oil exports and access related banking, transport, and insurance services. In addition, a proposed $300 billion private investment fund has already secured commitments for more than half its target.
The fund will support projects in energy, manufacturing, transport, logistics, and infrastructure to help rebuild Iran and encourage long-term stability.
However, major issues remain unresolved, including Iran’s missile program and support for regional armed groups.