The United States is expected to contribute $300 billion (equivalent to £223bn) for the reconstruction of Iran as part of a new agreement negotiated by Donald Trump with Tehran. The deal, set to be officially signed in Switzerland, includes the full reopening of the Strait of Hormuz, although it has already been informally agreed upon. Trump confirmed the signing of the deal upon his arrival at the G7 summit in France.
Under the terms of the agreement, all American and United Nations sanctions against Tehran will be lifted once a final deal addressing Iran’s nuclear program is reached. Leaked copies of an interim agreement reveal the key components that will lead to the end of the conflict.
As part of the agreement, Iran will have the freedom to sell its oil without restrictions, surpassing the limitations set by the 2015 Iran nuclear deal, which Trump criticized as the “worst deal ever.” The agreement is expected to face criticism in Washington as the US and Iran engage in 60 days of negotiations to finalize the agreement.
The deal also signals a setback for Israeli Prime Minister Benjamin Netanyahu, who supported joint military actions with the US at the start of the conflict. The agreement calls for an immediate cessation of hostilities between Israel and the Iranian-backed militia Hezbollah in Lebanon. While Iran demands Israeli forces withdraw, Israel maintains its stance of self-defense and continued presence in Lebanon.
The Trump administration asserts that the agreement will prevent Iran from obtaining nuclear weapons. However, Iran appears to be gaining significant benefits from the current terms of the agreement without making substantial concessions. The full implementation of certain aspects, such as the $300 billion reconstruction fund, lifting of sanctions, and release of frozen assets, hinges on the progress of further negotiations regarding Iran’s nuclear activities.
Details of the deal were leaked by Saudi-owned broadcaster Al Arabiya, with insiders confirming a close match to the reported text. The agreement aims to restore peace in the region, secure free passage through the Strait of Hormuz, and end hostilities. Additional negotiations on Iran’s nuclear program will determine the realization of the deal’s more significant provisions.
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