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What's in the US-Iran agreement?
10 hours ago
Bernd Debusmann Jr White House reporter
A US-Iran agreement to extend the ceasefire between the two countries has been signed and is now in effect, a White House official has confirmed to the BBC.
President Donald Trump formally signed the deal - which is set to reopen the pivotal Strait of Hormuz - while attending the G7 summit in Evian-les-Bains in France.
The 14-point agreement, which is known as a Memorandum of Understanding, says that Iran will never have a nuclear weapon, and also commits a $300bn fund for the "reconstruction and economic development" of the country - although the US is not required to contribute. It comes four months after the conflict between the countries - and Israel - broke out.
The agreement has been described by the Trump administration as "performance-based", with Iran benefitting only if it complies with its commitments.
While the text of the deal leaves many questions unanswered - and many key issues unsolved - here's what we know about some of the key points.
Point 1: An end to conflict 'on all fronts'
The first paragraph of the agreement notes that the US, Iran and allies will declare an "immediate and permanent" termination of military operations on "all fronts" - including Lebanon.
From the US perspective, Trump has been growing increasingly concerned that Israeli military operations against Hezbollah could upend the agreement with Iran.
Tehran, for its part, has repeatedly said it expected Lebanon to be covered by the truce.
Any continuation of Israeli military operations in Lebanon would constitute a "violation of the understanding" and "necessary measures will be taken", a spokesperson for the Iranian Ministry of Foreign Affairs said on Wednesday.
The agreement notes that "from now on" neither side will initiate military operations or threaten each other, and ensure "the territorial integrity and sovereignty" of Lebanon.
The final agreement will lead to the permanent "termination" of the conflict, the document says.
It is unclear how Israel will react to this point.
Point 2: Respect for 'internal affairs'
The text of the document - read verbatim to reporters in a call with US officials - notes that the US and Iran will "respect each other's sovereignty and territorial integrity" and refrain from interfering in each side's internal affairs.
This will likely be received negatively by Iranian dissident groups.
Earlier this year, Trump promised Iranian protesters that "help is on the way" during anti-government demonstrations that swept across Iranian cities.
Point 3: An extendable 60-day timeline
According to the third point in the document, the US and Iran will commit to negotiating and achieving a final deal in a "maximum" of 60 days, although that timeline could be extended with mutual consent.
That 60-day countdown has now begun after the leaders of of the two countries officially signed the MoU.
Trump signed the Iran document at a post-G7 dinner at the Palace of Versailles in France on Wednesday night, the White House told the BBC.
It has also been signed by Iranian President Masoud Pezeshkian, according to the White House.
Earlier, both Trump and Iranian officials indicated there would be a formal signing ceremony in Geneva later this week. It is unclear whether that will still go ahead now.
Point 4: US to end blockade
Once the MoU is signed, the US will begin removing its naval blockade and "any disturbances or impediments" that have been placed on Iranian ports, the fourth point says.
The blockade will end fully within 30 days, according to the agreement and the Iranian Ministry of Foreign Affairs. During this time, the number of vessels the US allows through Iranian ports will be in proportion to the traffic being restored by Iran in the Strait of Hormuz.
Within 30 days of a final deal being signed, the US has committed to removing American forces from the "proximity of Iran".
In practice, this means that the US military will return to the posture and assets it had in place before hostilities began on 28 February.
Point 5: Strait of Hormuz
Part of the agreement notes that upon the signing of the MoU, Iran will "make arrangements using its best efforts" to allow safe passage of commercial vessels through the Strait of Hormuz - with no charge.
This has been a significant objective of the US since the war began and the Strait of Hormuz was shut, sending global oil prices spiking.
The document notes that traffic will start flowing "immediately", taking into account the need to remove technical and military "obstacles" and conduct de-mining operations.
The officials in a briefing earlier repeatedly sought to make clear that vessels would not be charged for transit through the Strait of Hormuz.
In the longer-term, the document notes that Iran will work with Oman and other Gulf states to set up a "broader" agreement on how to manage the Strait of Hormuz.
The US believes that…
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