US Iran deal highlights: CENTCOM confirms lifting Iran naval blockade; Trump says he expects Lebanon truce

US Iran deal LIVE updates: Tehran reiterated its plans to charge ships crossing the Strait of Hormuz after the 60-day period stipulated in the document had elapsed.

Iran's chief negotiator Ghalibaf said in an interview aired on state television that the "Strait of Hormuz will not return to pre-war conditions", adding: "Iran has the right to sovereignty over the Strait of Hormuz and of course we will receive a fee for services."

US Iran deal LIVE updates: Oil prices fell more than two percent on Thursday, extending the losses sustained since news of the deal broke at the weekend.

International benchmark Brent North Sea crude was down 2.1 percent to $77.87 a barrel as of 0525 GMT.

US Iran deal LIVE updates: Israel was squeezed out of the negotiations with Iran, and Israelis from across the political spectrum have called the deal a disaster, directing their fury at Prime Minister Benjamin Netanyahu.

Trump, meanwhile, has grown more scathing in his displeasure with Netanyahu, even describing him as “crazy.” During the negotiations with Iran, Trump was furious over Israel’s strikes in Beirut, warning they could jeopardize an agreement.

In France on Tuesday, Trump said at the annual G7 summit that “without the U.S., there would be no Israel,” and added that Netanyahu “has to be more responsible with respect to Lebanon.”

Netanyahu is left in a precarious situation ahead of national elections later this year. His relationship with Trump may require downscaling a military campaign in Lebanon that is widely popular in Israel.

via AP

US Iran deal LIVE updates: US President Donald Trump expressed condolences over the deaths of three Indian seafarers killed in US attacks on merchant vessels off the coast of Oman, describing seafaring as “a rough profession”.

Asked during a joint media interaction with Prime Minister Narendra Modi whether he had a message for the families of the Indian sailors killed in the strikes, Trump said, “Yeah, I do. I heard about that. It’s a rough profession."

He further added: “This has been happening throughout time, but we work together. We love all of those people. They’re great people.”

The remarks came as Modi and Trump met on the sidelines of the G7 Summit in France, their first in-person meeting in 16 months amid the strained bilateral ties and concerns over the deaths of Indian crew members in the US attacks. Read full report

US Iran deal LIVE updates: The interim deal reached by the United States and Iran to end their war will reopen the Strait of Hormuz and bring the two adversaries back to the negotiating table over Tehran’s nuclear program. It will also give Iran an immediate benefit, allowing it to sell its oil freely again, according to details released by both countries.

Besides the new oil revenue for Iran, the two sides are more or less back where they were 3½ months ago — before Israel and the U.S. on Feb. 28 launched their war on Iran, which has left thousands dead across the region, triggered a global energy crisis and shaken the American economy.

Iran and the U.S. will enter a 60-day period of negotiations, and hanging over them will be the question of whether U.S. President Donald Trump can wrest a better deal than the 2015 nuclear accord he scuttled eight years ago.

via AP

US Iran deal LIVE updates: Pakistan's Prime Minister Shehbaz Sharif, who was involved in the mediation, said the memorandum was electronically signed on Thursday, Islamabad time, by US President Donald Trump and Iran's Masoud Pezeshkian. A ceremony will be held in Switzerland on Friday to "commemorate this landmark event and commence with the technical level talks", according to Sharif. However, Iranian media quoted foreign ministry spokesperson Esmaeil Baghaei saying that no signing ceremony will take place in Geneva on Friday. "The memorandum of understanding between Iran and the United States was agreed to be signed digitally," Baghaei was quoted as saying by Press TV.

US Iran deal LIVE updates: The interim deal notes that the United States will "immediately" begin the removal of its blockade of Iranian ports, which it imposed on April 13, and will bring it to an end within 30 days.

The United States also undertakes to "remove its forces from the proximity of the Islamic Republic of Iran within 30 days after the final deal".

US Iran deal LIVE updates: Iran will make best efforts to ensure 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 be fully restored within 30 days, once the Hormuz Strait has been cleared of mines.

Following the interim deal signing, Pakistan Prime Minister Shehbaz Sharif said that Iran will reopen the Strait of Hormuz and that the US will end the naval blockade.

US Iran deal LIVE updates: The United States undertakes to "terminate all types of sanctions against" Iran, and 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 US Treasury will "issue waivers for the export of Iranian crude oil, petroleum products and derivatives, and all associated services, including banking transactions, insurances, (and) transportation" with immediate effect, until the sanctions are lifted.

US Iran deal LIVE updates: The United States and its regional partners will draw up a plan with "at least" $300 billion "for the reconstruction and economic development" of Iran, as per the points of the MoU. Earlier, Trump had dismissed reports of the US paying Iran for reconstruction.

US Iran deal LIVE updates: According to the interim deal, Iran reaffirms that "it shall not procure or develop nuclear weapons".

The disposition of Tehran's enriched uranium will be resolved by "a mechanism that will be mutually agreed upon... with the minimum methodology to be down-blending on site under the supervision of the IAEA".

Pending the final deal, Iran will "maintain the current status quo of its nuclear program", and the United States "will not impose any new sanctions, and will not deploy additional forces in the region".

via AFP

US Iran deal LIVE updates: The interim deal, signed by Trump and Pezeshkian, notes that the US, Iran and their respective allies "declare an immediate and permanent termination of military operations on all fronts, including in Lebanon". They undertake "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".

via AFP

US Iran deal LIVE updates: Israel on Thursday said that one of its soldiers had been killed and 7 others injured in fighting in southern Lebanon the day before, AFP reported. Master Sergeant Alexander Filin, 29, "fell in combat", the military said in a brief statement, adding that an officer, a reserve officer and a reserve soldier were moderately injured. A combat non-commissioned officer, two reserve soldiers and a female reserve soldier were lightly injured, the military added.

US Iran deal LIVE updates: While it was earlier being reported that the US and Iran would sign the interim peace deal in Geneva on Friday, the respective presidents of the two countries remotely signed the war-ending document on Wednesday. Iran has now said that its presence in Geneva is still under discussion, though peace talks were likely to take place there.

US Iran deal LIVE updates: Former US official Joe Kent on Thursday said that restraining Israel would be the a key factor for the Iran-US deal to hold. “It is a very good thing that President Trump was able to sign the MOU with Iran and end this war. I pray the peace holds—restraining Israel & focusing on stability in the region will be critical to ensure it lasts,” Kent wrote on X.

US Iran deal LIVE updates: Before and after Trump launched the war against Iran, he stated that some of the goals were to overthrow the regime, end the nuclear programme and destroy its military. If we are to believe what Trump says, then the Iranian military may have been destroyed during the three-month-long war. But the other objectives seemed to have faded away due to the energy crisis triggered by the US-Israeli war in the region.

For a president who wanted a say in Iran's next Supreme Leader as well as control of their oil and tolls on the Strait of Hormuz, the deal with Iran skips these points.

With nothing on elections and a change in the Islamic regime, Iran will continue governing that way it has been since 1979.

Furthermore, the 14-point deal calls on Iran to ensure the reopening of the Strait of Hormuz within 30 days and ensure the marine movement goes back to pre-war volume. Read full report

US Iran deal LIVE updates: In a televised broadcast on Wednesday, Iranian Air Force personnel recounted the harrowing details of a precision airstrike carried out by the country to target an American military base in Kuwait. The attack was carried out in early March at the peak of US and Israel's offensive against the country.

Known as Camp Buehring, the operation was implemented by a commander and two crew member using Iranian F-5 fighter jets. All three were present during the televised interview.

Low altitude, high risk

As per the commander, the need for an immediate and direct response arose following renewed aggression by the US. "We immediately wanted to carry out a retaliatory operation," he stated, calling Camp Buehring as "a highly strategic base with one of the highest troop concentrations and capacities."

The tightly coordinated and high-risk penetration strike was executed at extremely low altitude within roughly 50 minutes, Iran's state news agency Press TV reveals.

Three pilots in two F-5 jets flew in formation into Kuwaiti airspace at exceptionally low altitude in order to avoid radar detection. “We were practically skimming the ground… We would even pass beneath power lines,” the commander added. “The training standard is about 500 feet, but we were flying below 50 feet.”

"We passed between two vessels so low that their decks were higher than us… The sailors had to come down and look over the railings just to see us pass beneath them."

Despite the presence of layered air defenses, including Patriot missile systems, AWACS surveillance, and scrambled fighter jets, the entire mission was carried out in complete radio silence.

Once the personnel had successfully entered the Kuwaiti airspace, the jets switched to direct overflight since the targets were to be attacked using free-fall bombs. “We had to fly directly over the target… As soon as we reached the base, we carried out a heavy bombing,” the commander revealed. Read full report

US Iran deal LIVE updates: United States President Donald Trump, after the signing of the peace deal between Tehran and Washington, said it would mitigate Israel's “biggest risk.” Revealing his conversation with Israeli Prime Minister Benjamin Netanyahu before signing the document, Trump said that the agreement protects Israel from a nuclear attack by Iran. “Look, think of what Israel is getting. They're not going to be nuked,” the US President told reporters in Évian-les-Bains in France, where he was attending the G7 summit.

Trump said that he had told Netanyahu that Israel was getting “the most important thing” that they had asked for.

Read full report

US Iran deal LIVE updates: Following are the key points of Iran-US MoU:

• Permanent end to hostilities:The United States, Iran and their respective allies "declare an immediate and permanent termination of military operations on all fronts, including in Lebanon". They undertake "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".
• Final agreement within 60 days: Iran and the United States commit to "negotiating and achieving the final deal in maximum 60 days, extendable with mutual consent".
• Lifting US blockade: The United States will "immediately" begin the removal of its blockade of Iranian ports, which it imposed on April 13, and will bring it to an end within 30 days. The United States also undertakes to "remove its forces from the proximity of the Islamic Republic of Iran within 30 days after the final deal".
• Reopening the Strait of Hormuz: Iran will make best efforts to ensure 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 be fully restored within 30 days, once the Hormuz Strait has been cleared of mines.
• $300 billion plan: The United States and its regional partners will draw up a plan with "at least" $300 billion "for the reconstruction and economic development" of Iran.
• Lifting sanctions: The United States undertakes to "terminate all types of sanctions against" Iran, and 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 US Treasury will "issue waivers for the export of Iranian crude oil, petroleum products and derivatives, and all associated services, including banking transactions, insurances, (and) transportation" with immediate effect, until the sanctions are lifted.
• Nuclear: Iran reaffirms that "it shall not procure or develop nuclear weapons". The disposition of Tehran's enriched uranium will be resolved by "a mechanism that will be mutually agreed upon... with the minimum methodology to be down-blending on site under the supervision of the IAEA". Pending the final deal, Iran will "maintain the current status quo of its nuclear program", and the United States "will not impose any new sanctions, and will not deploy additional forces in the region".
• Signing: Pakistan's Prime Minister Shehbaz Sharif, who was involved in the mediation, said the memorandum was electronically signed on Thursday, Islamabad time, by US President Donald Trump and Iran's leader Masoud Pezeshkian. A ceremony will be held in Switzerland on Friday to "commemorate this landmark event and commence with the technical level talks", according to Sharif.
• UN resolution: The final agreement will be endorsed by a binding resolution of the United Nations Security Council.

via AFP

US Iran deal LIVE updates: Even as the respective presidents of Iran and the US signed the war-ending MoU, uncertainty shrouds fate of Geneva talks after Iran said that no signing will take place on Friday.

Iran foreign ministry spokesperson said the memorandum of understanding has been formally signed. "The memorandum of understanding between Iran and the United States was agreed to be signed digitally," Baghaei said. "No signing ceremony will be held in Switzerland,” Esmaeil Baghaei as quoted as saying by the IRIB’s News Network. He said the decision to have the agreement signed by the highest-ranking officials of both countries was intentional, given past experiences.

"When the text is signed by the highest authorities of both countries, violating it will naturally carry greater costs. Given our past experiences, we preferred that this happen," Baghaei was quoted as saying, adding that Iran's presence in Geneva was still under discussion.

US Iran deal LIVE updates: Gold rose more than 1% on Thursday, recouping losses from the previous session, as a drop in oil prices following a U.S.-Iran interim agreement dampened inflation expectations and supported bullion.

Spot gold was up 1.4% at $4,316.42 per ounce, as of 0242 GMT, after declining 1.7% on Wednesday. U.S. gold futures for August delivery fell 1% to $4,336.70.

"It's a bit of short position unwinding (in gold) given yesterday's steep fall and the reason for the short unwinding is also due to the positive news coming out from the Middle East, which has caused oil prices to fall," said Kelvin Wong, a senior market analyst at OANDA.

via Reuters

US Iran deal LIVE updates: Oil prices tumbled again Thursday after US President Donald Trump and his Iranian counterpart signed off on a deal to end their war and reopen the Strait of Hormuz.

The news boosted optimism for a lasting peace between the two nations after more than three months of war that has rattled energy markets and fuelled a fresh spike in inflation.

However, the upbeat mood on trading floors was tempered by expectations the Federal Reserve will hike interest rates before year's end, after its new boss held his first policy meeting and acknowledged "persistently high prices are a burden for the American people".

via AFP

US Iran deal LIVE updates: Pakistan Prime Minister Shehbaz Sharif said on Thursday that the US will lift naval blockade and Iran will reopen Hormuz after the two sides signed an MoU to end the war. “The signing of this agreement at the highest level of the respective governments demonstrates the commitment of both sides to a diplomatic resolution of the conflict. Islamabad MoU shall enter into force with immediate effect and as a first step, Islamic Republic of Iran will instantly reopen the Strait of Hormuz and the United States of America will immediately lift the naval blockade,” Sharif wrote on X.

US Iran deal LIVE updates: Iranian foreign ministry spokesperson Esmaeil Baghaei also confirmed that the memorandum of understanding with the United States has been signed electronically.

“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,” Baghaei said, quoted by the state news agency IRNA.

US Iran Deal LIVE Updates: As the US and Iran have now signed a memorandum of understanding to end the war, both nations will now engage in a 60-day negotiation period over Iran's nuclear programme.

The US and Israel started this war in February with one of the objectives being - destroying Iran's nuclear programme. During these negotiations, delegations from Washington and Tehran will discuss Iran's nuclear ambitions and disposal of enriched uranium in accordance with the guidelines set by the IAEA.