Paris: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 as he departed Versailles. “I signed it at Versailles. “Just signed it.”
Iran confirmed the deal has been signed but insisted it showed the 'failure' of the US. But it warned that the real test is 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.
Iran’s foreign ministry spokesman Esmaeil Baqaei was quoted by state-run broadcaster “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.”
Islamic Republic News Agency(IRNA) as saying.
Hormuz, reconstruction fund and enriched uraniumThe deal will open the way for the re-opening of the Strait of Hormuz, the vital waterway through which nearly a fifth of the world’s crude oil flows. The deal also includes US waiver of oil sanctions that have devastated Iran’s economy.
The deal will also allow the US to help unlock a $300 billion reconstruction fund backed by regional countries once the final agreement is reached on.
However, Iran's nuclear programme will remain a contentious issue. As part of the deal, the Islamic Republic will cut back on its stocks of enriched uranium, possibly by “down-blending on site under the supervision” of the International Atomic Energy Agency (IAEA).
Friday meeting cancelled?A delegation led by US Vice President JD Vance was due to hold talks with Iran's chief negotiator Mohammad-Bagher Ghalibaf on Friday in Switzerland, which a senior American official said would be key to "shifting into nuclear talks." But Baghaei said talks on Friday were not confirmed after the digital signature of the deal.
It is worth noting that an
AxiosWashington 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", has reported, citing a top official.
"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 suspend consideration of the Friday meeting for now," Baghaei said.
ALSO READ -