PARIS: The United States and Iran have officially released the text of an interim ceasefire agreement signed by Presidents Donald Trump and Masoud Pezeshkian, marking a significant step toward ending months of conflict while opening the door to broader peace negotiations.
Despite announcing the agreement, President Trump warned that Washington would not hesitate to resume military action if Tehran failed to comply with its commitments.
Speaking during the G7 summit in France, Trump said he hoped Iran would respect the deal and contribute to regional stability but cautioned that any breach would trigger a swift American response. He also described Iranians as “smart people” and expressed optimism that negotiations over the next 60 days could produce a lasting settlement and help stabilize global energy markets.
In a notable shift from his earlier position, Trump indicated that he no longer sought the complete elimination of Iran’s ballistic missile capabilities, saying it would be unfair for Iran to have none while other countries possessed such weapons.
Iranian officials did not respond directly to the renewed threats, instead celebrating the agreement and presenting it as a diplomatic success. Lead negotiator Mohammad Baqer Qalibaf told state television that Iran had achieved through negotiations far more than military confrontation could have delivered, pointing to the release of frozen assets and broader economic relief.
The 14-point memorandum extends the existing ceasefire by another 60 days, covering all fronts, including Lebanon, while negotiators work toward a comprehensive peace agreement.
Among its key provisions are the reopening of the Strait of Hormuz to unrestricted maritime traffic, the removal of the US blockade on Iranian ports, waivers on American sanctions, the unfreezing of Iranian assets and the establishment of a $300 billion reconstruction investment fund for post-war recovery.
The agreement also includes Iran’s commitment not to pursue nuclear weapons and to allow the International Atomic Energy Agency to supervise the down-blending of its enriched uranium stockpile within the country, a compromise after Tehran rejected proposals to transfer the material abroad.
Financial markets reacted positively to the developments, with oil prices falling on expectations that shipping through the Strait of Hormuz would return to normal. Prices later recovered some losses after Trump reiterated the possibility of renewed military action if the agreement collapsed.
The conflict, which began following US and Israeli strikes on Iran on February 28, expanded into a wider regional confrontation that reportedly claimed more than 7,000 lives, mainly in Iran and Lebanon, while disrupting global energy supplies and increasing concerns over inflation and food security.
Although the agreement provides Iran with significant sanctions relief and economic incentives, many of Tehran’s military capabilities remain intact, including its ballistic missile programme and regional alliances.
Leaders attending the G7 summit welcomed the ceasefire as a step toward regional stability. However, Iran’s Foreign Ministry spokesperson Esmaeil Baghaei stated that no formal signing ceremony would take place in Switzerland, saying the agreement had already entered into effect following the digital signatures of both presidents.
