US and Iranian presidents sign agreement aimed at ending months-long war
President Donald Trump and his Iranian counterpart have signed a memorandum of understanding intended to end the months-long war. Both sides will spend the next 60 days negotiating a final framework; the future of Iran’s nuclear programme – a central reason cited by Washington for the conflict – has yet to be settled.
The joint signing ceremony was held at a conference centre near Geneva. BBC reported that President Donald Trump and the Iranian president signed two identical copies of the text, one in English and one in Persian, with mediating countries Oman, the United Arab Emirates and Pakistan represented in the room. The agreement is a 14-point framework document.
The text gives the two sides a 60-day window to negotiate on nuclear oversight, a timeline for lifting sanctions, maritime security and protection of energy infrastructure. A significant unresolved issue is the scope of Iran’s nuclear programme; the final status of enrichment facilities, cited by Washington as a key reason for starting the war, has been deliberately left outside the framework for now.
Regional markets reacted in mixed fashion. Brent crude dropped about two per cent, while commercial traffic through the Strait of Hormuz showed cautious early signs of recovery. The Iranian rial strengthened in the official market and the Tehran Stock Exchange opened around three per cent higher; diplomatic analysts caution, however, that the final framework will still hinge on the nuclear file.
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