The United States and Iran have signed a landmark agreement aimed at ending months of conflict in the Middle East, with a formal ceremony scheduled for Friday in Switzerland to mark the beginning of a 60-day negotiation process toward a final peace accord.
Naijaonpoint reports that US President, Donald Trump, signed the memorandum of understanding during a candlelit dinner at the Palace of Versailles following the G7 summit, according to a video shared by one of his aides.
The signing was witnessed by French President, Emmanuel Macron, and other world leaders.
“Just signed it,” Trump told reporters as he emerged from the palace.
Iran also confirmed the development, with Foreign Ministry spokesman Esmaeil Baqaei, quoted by the state news agency IRNA, saying the document “was finalised with the signatures of the presidents.”
Pakistan’s Prime Minister, Shehbaz Sharif, who played a mediation role in the negotiations, announced that the agreement had taken immediate effect.
The deal seeks to end the conflict that erupted on February 28 following US and Israeli strikes on Iran, which triggered retaliatory missile and drone attacks across the region and disrupted global trade routes.
One of the major highlights of the agreement is a commitment by the United States and its regional partners to support Iran’s post-war recovery.
According to the memorandum, a plan worth at least $300 billion will be developed for the “reconstruction and economic development” of Iran.
The package is expected to focus on rebuilding infrastructure, reviving economic activity and restoring investor confidence after months of conflict.
The agreement also addresses concerns surrounding Iran’s nuclear programme.
Under the terms of the memorandum, Iran reaffirmed that it “shall not procure or develop nuclear weapons.”
The document states that the future of Tehran’s stockpile of enriched uranium will be resolved through a mutually agreed mechanism, with down-blending under the supervision of the International Atomic Energy Agency identified as the minimum requirement.
Pending a final agreement, Iran will maintain the current status of its nuclear programme, while the United States pledged not to impose new sanctions or deploy additional military forces in the region.
The United States, Iran and their respective allies also agreed to an immediate and permanent cessation of military operations.
The memorandum stated that all parties would refrain from initiating war or military actions against one another.
The agreement extends to Lebanon and includes commitments to respect territorial integrity and sovereignty across the region.
“The United States, Iran, and their respective allies declare an immediate and permanent termination of military operations on all fronts, including in Lebanon,” the document stated.
Both countries committed to negotiating a comprehensive agreement within 60 days. The timeline may be extended if both sides consent.
The Swiss ceremony scheduled for Friday is expected to formally launch technical-level discussions aimed at transforming the memorandum into a binding peace settlement.
Sharif described the event as a landmark moment and said it would commence detailed negotiations between both countries.
The agreement provides for the immediate removal of the US blockade imposed on Iranian ports in April.
Washington also committed to ending the blockade completely within 30 days and withdrawing military forces from areas close to Iran after a final agreement is reached.
The memorandum further commits the United States to terminating sanctions against Iran and unfreezing restricted Iranian assets.
In addition, the US Treasury will immediately issue waivers allowing the export of Iranian crude oil, petroleum products and related services, including banking, insurance and transportation activities.
