U.S. President Donald Trump announced on Wednesday the signing of an agreement with Iran, which involves Tehran reducing its stockpile of highly enriched uranium while the U.S. would lift sanctions, allowing Iran to freely sell its oil. The agreement, mediated by Pakistani Prime Minister Shehbaz Sharif, is in immediate effect after the leaders’ signatures, with a formal ceremony scheduled for Friday.
The deal includes provisions for opening the Strait of Hormuz toll-free for two months and upholds Lebanon’s territorial integrity against Israeli incursions on Hezbollah. U.S. officials, speaking anonymously, revealed details of the agreement, stating that the text released by Iranian state TV aligns with the U.S. version. President Trump signed the agreement in Versailles, France, not Switzerland as initially planned.
President Masoud Pezeshkian of Iran signed the agreement in Tehran. The agreement addresses Iran’s commitment to not develop nuclear weapons and requires the downgrading of highly enriched uranium on-site. In return, the U.S. will waive some sanctions while ensuring toll-free passage through the Strait of Hormuz for a limited period.
The agreement has drawn criticism in Washington and is seen as a setback for Israeli Prime Minister Benjamin Netanyahu. It aims to restore the pre-war status quo, including ending hostilities and reopening vital passages like the Strait of Hormuz. Trump emphasized the agreement’s provisional nature, warning of possible consequences if Iran fails to comply.
The deal offers concessions to Iran, such as the lifting of the U.S. blockade on Iranian ports and immediate waivers on oil sales. It also hints at the possibility of lifting all sanctions, providing substantial financial aid for Iran’s reconstruction. The agreement surpasses the 2015 nuclear deal by offering broader relief from sanctions and financial support for Iran’s recovery.
