US, Iran digitally sign peace deal to end Middle East war, reopen Hormuz | Top Updates | World

Following days of intense talks and negotiations, the United States (US) and Iran have signed the peace deal to end the over three-month-long conflict in the Middle East, confirmed President Donald Trump on Wednesday (local time). The deal was signed digitally by Trump and his Iranian counterpart Masoud Pezeshkian.

“It’s signed,” Trump told reporters while leaving Versailles. “I signed it in Versailles. Just signed it.”

Iran confirmed the deal has been signed, while insisting that it highlights the ‘failure’ of the US. It, though, cautioned that the real test begins now as the agreement now needs to be implemented. It is worth mentioning that the agreement will give the two sides 60 days to negotiate the final terms of the agreement.

“The text of the Islamabad Memorandum of Understanding was finalised with the signatures of the presidents — now it is time to test the implementation of the agreement,” Iran’s foreign ministry spokesperson Esmaeil Baqaei was quoted by state-run broadcaster Islamic Republic News Agency (IRNA) as saying.

Hormuz, reconstruction fund and enriched uranium

The deal will pave the way for reopening of the Strait of Hormuz, the critical waterway through which nearly one-fifth of the global crude transits. Under the deal, the US will also waive oil sanctions that have severely affected Iran’s economy.

The deal will also allow the US to facilitate the release of a USD 300 billion reconstruction fund supported by regional nations once the final agreement is reached on.

However, Iran’s nuclear programme will remain a contentious issue. The deal says that the Islamic Republic will dilute its enriched uranium stocks, possibly by “down-blending on site under the supervision” of the International Atomic Energy Agency (IAEA).

Friday meeting cancelled?

Earlier, a delegation headed by US Vice President JD Vance was scheduled to meet Iran’s top negotiator Mohammad-Bagher Ghalibaf on Friday in Switzerland, which a top American official described would be crucial to “shifting into nuclear talks”. However, following the digital signing of the agreement, Baghaei has said that Friday’s talks are not confirmed.

It is worth noting that an Axios reported, citing a top official, has reported that Washington remains skeptical about Iran’s nuclear programme, but it would know “within days or weeks” whether the Middle East nation is serious about implementing, which has been described as “gentleman’s agreement”.

“The Friday meeting was confirmed until a few hours ago, but when it was decided that the presidents of the two sides (Iran and the US) would sign the agreement, it was decided to pause consideration of the Friday meeting for now,” Baghaei said.

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