President Trump detailed a preliminary agreement to end the conflict with Iran during a press conference in Evian-les-Bains, France. This took place at the conclusion of the G7 summit. Senior administration officials, briefing reporters anonymously, read the agreement in full.
The announcement followed Trump’s earlier claim that an agreement had been made, but the specifics were kept under wraps until Wednesday. This delay led to speculation about the agreement’s contents.
The preliminary agreement, shared by a senior official, includes the “immediate and permanent termination of military operations on all fronts,” including in Lebanon. Both the U.S. and Iran agreed not to start any new conflicts. The document allows for a 60-day period, subject to extension, for negotiating a final settlement.
Once signed, the U.S. will start lifting its naval blockade, with full removal expected within 30 days if a final deal is reached. Iran will ensure the safe commercial shipping between the Persian Gulf and the Sea of Oman, free of charge for 60 days.
The framework outlines a planned $300 billion fund for Iran’s reconstruction and economic growth. However, Trump asserted that the U.S. would not directly contribute. Other countries may have the opportunity to invest.
The U.S. will lift sanctions against Iran as part of the final agreement. Additionally, Iran commits not to acquire nuclear weapons. Both nations will collaborate on handling Iran’s enriched uranium stockpiles.
Before the agreement reaches completion, sanctions will technically remain, but the U.S. will permit waivers for Iranian oil exports and related financial transactions. Once finalized, frozen Iranian funds will become accessible.
Pending issues, such as compliance monitoring, will be subject to final negotiations.
During his press conference, Trump indicated that technical discussions on nuclear issues would commence soon. Economic relief, he clarified, would depend on merit, not direct U.S. contributions.
Trump emphasized the agreement’s economic necessity. Without the deal, military actions could have continued indefinitely, impacting the Strait of Hormuz and global markets.
The late-February U.S.-Israel-led war with Iran affected the global economy, causing oil prices to soar. Domestic opinion polls reflected disapproval of U.S. actions, impacting Trump’s economic ratings.