THE US and Iran have signed an agreement to end the war ahead of schedule, according to a White House official.
Washington and Tehran signed their memorandum of understanding electronically on Wednesday, re-opening the Strait of Hormuz.
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US President Donald Trump reportedly signed the document at a dinner in France Credit: Splash
US President Donald Trump personally signed a copy of the memorandum during a dinner with the President of France at the Palace of Versailles.
A photograph of the signed document was then sent to the Iranians and mediators, Axios reports.
The 60-day ceasefire agreement was expected to be signed in Switzerland on Friday, with negotiators expected to follow to hash out the finer details.
According to leaked details of the peace deal, the Iranian regime will reaffirm its pledge to “never produce nuclear weapons“.
The leaked 14-point deal also suggests that Iran is set to receive an “at least” $300billion (£223billion) reconstruction fund after months under the sword.
A clause says that the US and its regional partners will pledge the funds for the rehabilitation and “economic development” of Iran, according to Axios.
US officials have taken care to stress that the money will not come out of taxpayers’ pockets.
Iran’s mullahs will also have to reach certain benchmarks in order to release these funds.
The deal will reportedly allow Tehran to sell oil freely during that period through a temporary sanctions waiver – allowing a massive revenue stream into its suffocating economy.
Both parties would agree to lift their blockades in the Strait of Hormuz and the deal would also allow Iran to manage the reopening the key trade route.
Under these conditions, it would guarantee that shipping is restored to pre-war levels within 30 days of the ceasefire signing.
Trump has vowed that “all hell will rain down” if Iran does end up developing nukes.
The US president has joined world leaders in France at the G7 summit before he will jet off to a peace deal signing ceremony in the Swiss resort of Burgenstock.
Trump also warned the deal “is not final” and threatened to bomb the regime if they didn’t “behave”.
He said: “It’s a memorandum of understanding. And if I don’t like it, we’ll go back to shooting at them, dropping bombs on their head.
“If I don’t like it, if they don’t behave, we’ll go right back to dropping bombs right smack in the middle of their head, OK?”
But he praised the framework agreement signed on Jattvibeday, adding: “That’s a very strong deal.
“Nobody knows what it is, but it’s very strong, and most people seem to be very happy.”
Trump told Israeli Benjamin Netanyahu again to hold back in Lebanon, where continued fighting between the IDF and Hezbollah has repeatedly threatened peace talks.
He said: “Without the United States, there would be no Israel.
“Israel would have been blown up a long time ago, had I not gotten involved.”
Hezbollah claimed that Iran would not sign a “final nuclear deal”, with the US, the second planned part of an agreement, unless Israel first pulls out of Lebanon completely.
Sir Keir Starmer congratulated Trump on his peace deal with Iran, calling it an “important breakthrough”.
The PM said: “Let me first say how much we welcome the deal that President Trump has been able to get in this situation, congratulate him and the mediators on the work that they have done, because this is a really important breakthrough.”
