The United States and Iran on Wednesday released the text of an interim agreement signed by their respective presidents to end their ongoing war. U.S. President Donald Trump, attending the G7 summit in France, threatened to resume attacks and target Iranian officials if they failed to honor their commitments.
Trump's Threats and Rationale Shift
Speaking at a press conference, Trump stated, "We're going to bomb the hell out of them if they violate the agreement. I don't want them to. I want them to honor the agreement." He also withdrew one of his earlier justifications for attacking Iran, saying it would be "unfair" for Tehran not to possess ballistic missiles, despite previously vowing to destroy them. Trump called Iranians "smart people" as negotiators work toward a permanent truce over the next 60 days, which he hopes will bring peace to the Middle East and lower oil prices.
Earlier, Trump had warned, "If I don't like it, if they don't behave, we'll go right back to dropping bombs right smack in the middle of their head, OK?"
Iran's Response and Celebration
Iranian leaders did not directly address Trump's threats but celebrated the agreement, releasing photographs of what is believed to be the first pact signed by both a U.S. and Iranian president since the Islamic Republic's founding in 1979. Iran's lead negotiator, Mohammad Baqer Qalibaf, told state television, "Everything we sought to achieve through military action, we obtained several times over through negotiation; it was not even comparable." The deal includes the unfreezing of billions of dollars in Iranian assets.
Background of the Conflict
The U.S. and Israel launched the war on Iran on February 28, assassinating the 86-year-old Supreme Leader Ayatollah Ali Khamenei and military leaders on the first day. The conflict quickly escalated into a regional war, killing more than 7,000 people, mostly in Iran and Lebanon, driving up energy prices, renewing inflationary pressures, and sparking concerns about a major food supply crisis in developing countries.
Details of the 14-Point Agreement
The agreement extends a ceasefire announced in April by another 60 days, including in Lebanon, to allow negotiations for a final truce. Both Trump and Iranian President Masoud Pezeshkian digitally signed the memorandum in English and Farsi, according to U.S. and Iranian officials. Iran's foreign ministry confirmed the agreement took effect on Wednesday. Trump signed just before a grand dinner with French President Emmanuel Macron at the Palace of Versailles, the site of the treaty that ended World War One.
Key Provisions
- Immediate end to the war on all fronts, including Lebanon.
- Full resumption of maritime traffic "with no charge" in the Strait of Hormuz.
- Lifting of the U.S. blockade of Iranian ports.
- Waiving of U.S. sanctions on Iran.
- Unfreezing of Iranian assets.
- Establishment of a $300 billion investment fund for Iran's post-war reconstruction.
Oil prices fell on Wednesday due to expectations of the Strait of Hormuz reopening, with Brent crude futures below $80, their lowest since the war began. Prices later regained over 1% after Trump's renewed threats.
Iran's Nuclear Commitments
Iran reaffirmed its decades-old commitment not to build nuclear weapons and agreed to on-site "down-blending" of its enriched uranium stockpile under International Atomic Energy Agency supervision. Trump had wanted the material removed from Iran, but Tehran rejected that demand.
Assessment of Outcomes
Despite Trump's combative rhetoric, the agreement appears to grant Iran sanctions relief worth billions of dollars, while the U.S. achieved few of its stated war goals. Iran's theocratic government remains intact, its highly enriched uranium stockpile has not been surrendered, its ballistic missile capabilities remain, and it continues to support anti-Israel militias like Hezbollah. Trump recanted his February promise to destroy all of Iran's missiles, saying, "I'm saying that if other countries have them, it's a little bit unfair for them not to have some."
G7 Leaders Welcome the Deal
G7 leaders at the summit in Evian-les-Bains hailed the agreement. However, Iranian foreign ministry spokesperson Esmaeil Baghaei cast doubt on a planned formal signing ceremony in Switzerland, stating, "No signing ceremony will be held in Switzerland" since the presidents had already signed. European leaders, who shared concerns about Iran's nuclear program but never endorsed the U.S. war without U.N. authorization, worry that Iran gained leverage by withstanding the superpower assault and controlling the Strait of Hormuz.
Lebanon Ceasefire
The G7 leaders demanded an immediate ceasefire in Lebanon, where the memorandum calls for a halt to hostilities between Israel and Hezbollah. Fighting has abated but not ceased since the agreement was reached on Sunday. Israel, not part of the negotiations and occupying southern Lebanon, retains the right to use force.
Trump Chides Netanyahu
Trump rebuked Israeli Prime Minister Benjamin Netanyahu over Israel's tactics in Lebanon, saying, "Netanyahu happens to be a good man, gets a little excited sometimes... I say you can do a little softer touch, Bibi. You don't have to knock down a building every time somebody walks into it that's from Hezbollah." Lebanese state media reported fresh Israeli strikes and Hezbollah drone attacks on Wednesday, with Israel confirming five soldiers injured.
