Trump signed US-Iran deal at Versailles: Macron welcomes MoU, says 'important step in right direction'

President Donald Trump signed an agreement with Iran Wednesday that calls for Tehran to dilute its stockpile of highly enriched uranium and waives US-backed sanctions on the country, immediately allowing Iran to sell its oil freely in a major concession from Washington, according to details released by both countries, AP reported.

The initial deal to end the war takes "immediate effect" after leaders from both countries signed it, Pakistani Prime Minister Shehbaz Sharif, who helped mediate the agreement, said in a post on X.

French President Emmanuel Macron on Wednesday (local time) welcomed the signing of the Iran-United States Memorandum of Understanding (MoU), describing it as an important step toward lasting peace and the reopening of the strategically vital Strait of Hormuz.

The agreement calls for a permanent end to hostilities and starts a 60-day negotiating clock to reach a final deal on the future of Iran's nuclear program, though Trump left the door open to resume attacks. It appears to offer Iran several benefits up front while extracting little in return.

The deal has been shrouded in secrecy and confusion for days.

US officials did not disclose the terms even after saying Trump and Vice President JD Vance digitally signed it over the weekend.

Trump signed a physical copy on Wednesday while dining with French President Emmanuel Macron at Versailles, the palace where many historic agreements have been signed over the centuries, ending wars or territorial disputes.

The White House had planned a signing ceremony on Friday in Switzerland, but its fate is now uncertain, with conflicting information from the US, Iran and Pakistan.

"It's signed," Trump said as he left the dinner at Versailles, which followed his trip to the Group of Seven summit in France.

In a video posted online by a White House aide, Trump was seen seated at a table next to Macron signing a paper copy of the agreement. Trump then handed the document and pen to Secretary of State Marco Rubio as people in the room applauded.

In a post on X, Macron confirmed that US President Donald Trump signed the agreement during a dinner at the Palace of Versailles and expressed hope that the development would contribute to lower global energy prices.

"President Trump signed tonight at Versailles the agreement between Iran and the United States. This agreement paves the way for lasting peace and allows the reopening of the Strait of Hormuz. It is an important step in the right direction for our compatriots that will soon enable a decrease in energy prices," Macron said.

The White House also shared a video showing Trump signing the document alongside Macron during the dinner meeting in Versailles.

"President Donald J. Trump has SIGNED the Iran Memorandum of Understanding at Versailles in France," the White House said in a post on X.

The agreement marks a significant diplomatic development between Washington and Tehran.

According to CNN, US President Donald Trump and Iranian President Masoud Pezeshkian virtually signed the 14-point memorandum aimed at ending hostilities between the two countries, reopening the Strait of Hormuz and launching a 60-day process to negotiate a comprehensive final agreement.

Agreement comes into immediate effect

CNN reported that a White House official confirmed Trump personally signed the document on Wednesday while in France, while Pezeshkian signed it separately, bringing the agreement into immediate effect.

The United States subsequently released the official text of the "Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran."

Framework agreement

A senior US administration official described the agreement as a framework designed to reopen the Strait of Hormuz immediately, address Iran's stockpile of enriched uranium and create a pathway for phased economic relief tied to Tehran's compliance with the deal.

According to Iran's Press TV, Foreign Ministry spokesperson Esmaeil Baghaei confirmed that the memorandum had been finalised and signed by both sides following consultations involving Oman and other countries.

Immediate cessation of military operations

The 14-point agreement provides for an immediate cessation of military operations, including in Lebanon, and commits both countries to pursuing a final agreement within 60 days.

It also includes provisions for the removal of the US naval blockade, safe passage of commercial vessels through the Strait of Hormuz, phased sanctions relief, the release of frozen Iranian assets and a US-backed economic development programme for Iran worth at least $300 billion.

The memorandum further states that Iran has reaffirmed it will not develop or acquire nuclear weapons and envisages future discussions regarding enriched uranium stockpiles under the supervision of the International Atomic Energy Agency (IAEA).

(With inputs from ANI)