The United States on Wednesday read out the text of the interim U.S.-Iran agreement to halt the war in Iran and open the Strait of Hormuz.

The agreement, read to reporters by a senior U.S. official, outlines in 14 points a high-level understanding that defers many of the most difficult issues, such as how to wind down Iran’s nuclear program, until a final deal is reached. It paves the way for a broader 60-day negotiation period due to begin in Switzerland on Friday, Reuters reported.

Here is the ​full document, titled “Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran”, as it was read out:

1. The United States of America and the Islamic Republic of Iran and their allies in the ‌current war, by signing this MOU (Memorandum of Understanding), declare the immediate and permanent termination of military operations on all fronts, including in Lebanon, and undertake from now on not to initiate any war or any military operation against each other, and to refrain from the threat or use of force against each other, and ensuring the territorial integrity and sovereignty of Lebanon. The final deal will confirm the permanent termination of the war on all fronts, including in Lebanon, and other provisions of this paragraph.

2. The United States of America and the Islamic Republic of Iran undertake to respect each other’s sovereignty and territorial integrity, and to refrain from interfering ​in each other’s internal affairs.

3. The United States of America and the Islamic Republic of Iran commit to negotiating and achieving the final deal in maximum 60 days extendable with mutual consent.

4. Immediately upon the signing of this MOU, the United States ​of America will begin the removal of its naval blockade and any disturbances or impediments against the Islamic Republic of Iran, and will fully end the naval blockade within 30 days. During this period, ⁠the traffic of vessels will be in proportion to the numbers of pre-war traffic being restored by the Islamic Republic of Iran. The United States of America further undertakes to remove its forces from the proximity of the Islamic Republic of Iran within 30 days after the ​final deal.

5. Upon the signing of this MOU, the Islamic Republic of Iran will make arrangements using its best efforts for the safe passage of commercial vessels with no charge for 60 days only from the Persian Gulf to the Sea of Oman and vice versa. The ​traffic of commercial vessels will immediately start and, considering the need for removing the technical and military obstacles and de-mining by the Islamic Republic of Iran, will be instated within 30 days. The Islamic Republic of Iran will conduct dialog with the Sultanate of Oman to define the future administration and maritime services in the Strait of Hormuz, in discussion with other Persian Gulf littoral states in line with the applicable international law and the sovereign rights of coastal states of the Strait of Hormuz.

6. The United States of America undertakes with regional partners to develop a definitive, mutually agreed plan with at least USD 300 billion for the ​reconstruction and economic development of the Islamic Republic of Iran. The mechanism for the implementation of this plan will be finalized as part of final deal within 60 days. All required licenses, waivers, and permissions needed for the relevant financial transactions will be granted by the United ​States of America.

7. The United States of America undertakes to terminate all types of sanctions against the Islamic Republic of Iran, including the United Nations Security Council resolutions, i.e. IAEA Board of Governors resolutions, and all unilateral U.S. sanctions, primary and secondary, in an agreed upon schedule as part of the ‌final deal. The ⁠Islamic Republic of Iran and the United States of America acknowledge the critical importance of the sanctions termination issue above mentioned and express their intentions to immediately address these issues in the negotiations in order to achieve mutual agreement on them.

8. The Islamic Republic of Iran reaffirms that it shall not procure or develop nuclear weapons. The United States of America and the Islamic Republic of Iran have agreed to resolve the disposition of stockpiled enriched material pursuant to a mechanism that will be mutually agreed upon, in accordance with the schedule mentioned in paragraph seven with the minimum methodology to be down blending on site under the supervision of the IAEA. The two parties also agreed to discuss the issue of enrichment and other mutually agreed matters related to the Islamic Republic of Iran’s nuclear needs, based on a satisfactory framework being agreed upon ​in the final deal. The final deal will confirm the provisions ​of this paragraph. The United States of America and the ⁠Islamic Republic of Iran acknowledge the critical importance of the nuclear issues above mentioned and express their intention to immediately address these issues in the negotiations in order to achieve mutual agreement on them.

9. Pending the final deal, the United States of America and the Islamic Republic of Iran agree to maintain the status quo. The Islamic Republic of Iran will maintain the current status quo of its nuclear program and ​the United States of America will not impose any new sanctions and will not deploy additional forces in the region.

10. The United States of America undertakes that immediately upon the signing of this ​MOU and until the termination of sanctions, ⁠S. Department of Treasury will issue waivers for the export of Iranian crude oil, petroleum products, and derivatives, and all associated services, including banking transactions, insurances, transportation, etc.

11. The United States of America undertakes to make fully available for use the frozen or restricted funds and assets of the Islamic Republic of Iran. Upon the implementation of this MOU, the United States of America and the Islamic Republic of Iran will mutually agree on the procedures related to the release of these funds during the negotiation. Such funds, whether retained in the original account or transferred, shall be made fully usable ⁠for payment to ​any ultimate beneficiary designated by the Central Bank of the Islamic Republic of Iran. The United States of America undertakes to issue all necessary licenses and authorizations accordingly.

12. ​The United States of America and the Islamic Republic of Iran agree that an executive mechanism will be established to monitor the successful implementation of this MOU and the future compliance of the final deal.

13. After signing this MOU, and subject to the beginning of the implementation of paragraphs 1,4,5,10 and 11 of this MOU, and the continuing ​implementation of these measures, the United States of America and the Islamic Republic of Iran will start negotiations regarding the final deal exclusively on the other paragraphs.

14. The final deal will be endorsed by a binding UNSC resolution.

U.S. President Donald Trump said Russia should make peace with Ukraine ​after a “very good” meeting with President Volodymyr Zelenskiy on Tuesday, in comments that sparked cautious optimism among G7 leaders that a peace deal could be struck.

The upbeat mood ‌over the Ukraine war, now deep into its fifth year, stands in stark contrast to Zelenskiy’s meeting with Trump in the Oval Office last year, when he was told he had no leverage in potential peace talks with Russia, Reuters reported.

Zelenskiy and his European allies came to this week’s G7 summit in the French lakeside resort of Evian-les-Bains hoping to impress upon Trump that Ukraine’s battlefield fortunes had improved thanks to its drone incursions deep into Russia.

Trump, who arrived at the summit ​brandishing a preliminary deal to end his war with Iran, said he would do what he could do to end the conflict in Ukraine, but there were few details of any concrete steps to ​raise the pressure on Moscow.

“Look, Russia should make a deal,” Trump told reporters, adding that too many young men were dying on the battlefield on ⁠both sides. “I’m gonna do whatever I can.”

German Chancellor Friedrich Merz said Trump’s statement that Russia should end the war was cause for cheer.

“I found him to be very cooperative, and I also saw him ​listening very attentively,” Merz told reporters. “And in that respect, once again, it gives me a certain degree of optimism that we here, as Europeans and as Americans, are now doing everything we can, together, to ​end the war.”

After the group meeting with Trump, Zelenskiy told Reuters that G7 leaders agreed that Russia was not winning the war. He said they also discussed additional sanctions targeting Russia’s oil exports, its banking sector and its military production to bring Moscow to the negotiating table.

Ukrainian public broadcaster Suspilne later showed a clip of Zelenskiy saying he hoped to meet Trump again on Tuesday.

“Our teams will be meeting over the course of the next 24 hours at various levels ​and will continue to meet,” Zelenskiy said. “I think that tomorrow we will also meet separately with the president (Trump).”

Zelenskiy said on Monday that he had offered to meet Russia’s Vladimir Putin at the G7 summit, ​but a Kremlin aide said that did not come up in a call between Trump and Putin.

POSITIVE TALKS ON UKRAINE

Two European diplomats said that, during the meeting, Zelenskiy showed Trump images of the aftermath of a Russian strike ‌on Monday ⁠on Kyiv’s Pechersk Lavra monastery.

Trump expressed disapproval of the strike, one of the European diplomats said, while the other said that it had been “psychologically” a good move by Zelenskiy to show the images.

European diplomats said the tone of the meeting had been constructive.

But two of the diplomats said Trump had been noncommittal on imposing further U.S. sanctions on Moscow, as European leaders want.

Trump told reporters Washington was now in a position to let Russian oil waivers lapse after an interim accord to end the Iran war soothed markets, but he did not address the question of broader punitive measures.

European leaders have wanted to convince Trump that ​previous U.S. positions on the possible terms of ​a deal were overly favourable towards Moscow, particularly ⁠now that Ukraine’s drone incursions into Russia have improved its fortunes.

“The tide is turning for Ukraine,” European Commission President Ursula von der Leyen posted on X. “Russia’s fatigue is openly showing. That’s the time to double down on our support.”

A French diplomat said G7 leaders committed to providing Kyiv with more air defence ​capabilities — a key priority for Zelenskiy as he grapples with increased civilian strikes from Russia.

G7 TO EXAMINE HORMUZ SHIPPING PROBLEM

European leaders were also set ​to warn Trump that an ⁠interim deal with Iran risks entrenching Tehran’s nuclear and ballistic missile programmes. President Emmanuel Macron said the aim was to guarantee a “solid, serious agreement that is finalised”.

Tuesday’s working lunch focused on the safe reopening of the Strait of Hormuz, which Iran largely closed at the end of February. Leaders also sought to identify alternative routes to bypass the waterway, which Trump said would be “completely open” on Friday.

The interim deal should open a 60-day window for complex technical negotiations ⁠that would include ​the fate of Iran’s stockpile of highly enriched uranium and the lifting of international sanctions.

However, European allies fear an inexperienced ​U.S. negotiating team may fail to secure a robust nuclear agreement or address Iran’s ballistic missile programme in the next phase, potentially creating a prolonged standoff.

Trump said the deal stated “loud and clear” that Iran would not develop a nuclear weapon – something Iran ​has long denied seeking to do.

Leaders of the Group of Seven wealthy nations meet at a ​French lakeside resort on Monday shortly after the US and Iran said they had reached a preliminary deal to end their war, Reuters reported.

Discussing ‌next steps on Iran will be one of several issues the global leaders will wrestle with during the June 15-17 summit, which will also seek common ground on the war in Ukraine, tackling global economic imbalances and sourcing critical minerals outside of the dominant supplier China.

US President Donald Trump is due to arrive in Evian-les-Bains on Monday for the gathering ​at a time when global leaders are increasingly wary of the United States, although French officials were glad to have secured his ​presence after he left last year’s G7 summit in Canada early.

Many G7 leaders have been directly impacted by Trump’s ⁠volatile moves on the global stage that have upended the Middle East, global trade and diplomacy. His actions have led to larger questions about the ​US commitment to the post-war global order it helped establish.

Trump is due to meet with Middle Eastern leaders and attend a working session with Ukrainian President ​Volodymyr Zelenskiy during the summit.

The Zelenskiy meeting on Tuesday comes at a time when Russian advances in Ukraine have slowed and Ukraine seeks more military funding from its allies, read the report.

Zelenskiy’s hand has improved since Trump famously told him in the Oval Office last year: “You don’t have the cards”.

But he may find greater U.S. support elusive as Trump prioritises drawing ​a line under then Iran conflict, which has dented his support domestically.

G7 leaders will be keen to learn the details of the US-Iran ​deal. A memorandum of understanding is scheduled to be officially signed on Friday in Switzerland but precise terms were not immediately known.

Trump said the Strait of Hormuz, a major ‌shipping route ⁠for global oil and gas supplies that Iran has effectively shut down for months, would open on Friday, and that he had ordered the end of the US blockade of Iranian ports.

In a statement, the secretariat of Iran’s Supreme National Security Council said war and military operations on all fronts, including Lebanon, would end permanently starting on Monday night.

Iran’s deputy foreign minister, Kazem Gharibabadi, said a more expansive agreement would be negotiated during a 60-day ceasefire ​period, including sanctions relief for Iran. Iran’s ​nuclear program will be addressed ⁠in those later talks, sources had previously told Reuters.

The United Arab Emirates, directly harmed by the war, and key mediators Qatar and Egypt will also attend the G7.

Trump will be greeted on Monday by French President Emmanuel Macron, ​for whom this summit serves as a diplomatic capstone for his second and final term in office, which ​draws to a close ⁠next year.

Macron is increasingly seen as a lame duck domestically but he still has pull on the global stage, and was able to get Trump to agree to a glitzy dinner at the Palace of Versailles on Wednesday.

Macron has sought to use France’s presidency of the G7 to push for action on global macroeconomic ⁠imbalances, a ​longstanding US concern, before Washington takes the chair of the G20 this year and the ​G7 next. France has framed the issue as a shared responsibility in that China overproduces, the United States overconsumes and Europe underinvests, Reuters reported.

Brazil, India, Kenya and South Korea have been invited to ​the G7 to join the discussion, while Macron has urged China to boost its own consumption.