U.S. President Says Preliminary U.S.-Iran Agreement Signed to End Gulf Conflict

Reuters

U.S. President Donald Trump.

U.S. President Donald Trump said on Monday a preliminary agreement to end the war in the Gulf has already been signed by the United States and Iran, though details have yet to be made public.

"The deal's all signed," ‌President Trump said after he arrived in France for a summit of the G7 group of big economies, adding that Vice President JD Vance would attend a formal signing ceremony in Geneva on Friday.

Iranian President Masoud Pezeshkian said on Monday that a memorandum aimed at ending the conflict between Iran and the US could become a source of national pride if all of its provisions are fully implemented.

Speaking on the sidelines of a national governance conference in Tehran, Pezeshkian said the agreement could help address many outstanding issues and pave the way for new conditions in Iran and across the region.

“If all provisions of this memorandum are properly implemented, it will be regarded as a source of pride for the country,” he said.

Pezeshkian described the memorandum as an achievement not only for Iran but also for the wider region and what he called the “resistance forces.”

He said details of the agreement would be released at an appropriate time and noted that more than 90% of the members of Iran's Supreme National Security Council had backed it.

The president added that Iran's negotiating team would continue its work within the framework set by the country's leadership.

The agreement would reopen the blockaded Strait of Hormuz and extend a ceasefire for 60 days, allowing negotiators to tackle difficult issues like the future of Iran's nuclear program. Oil prices fell to their lowest level since March 10, shortly after the conflict cut off one-fifth of the world's oil supply.

But much about the agreement remains unknown.

U.S. and Iranian officials say it could eventually deliver substantial economic benefits to Iran by lifting sanctions, unfreezing foreign assets, and setting up a $300 billion reconstruction fund, paid for by neighboring Gulf allies.

U.S. officials, speaking on condition of anonymity, said Iran would have to satisfy U.S. demands never to build a nuclear weapon and cut off support for proxy militias like Hezbollah in order to get those benefits.

Details will be released sometime over the next two days, U.S. officials said.

While the deal lifts Iran's chokehold on the Strait of Hormuz, that only restores the prewar status quo and shippers say navigation will only restart once safety is assured.

Iran has suggested it will retain control with Oman over the strait. The United States says the strait will be open toll-free for 60 days and said it would expect that provision to be part of a final agreement as well.

Source: Reuters, AA



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