US President Donald Trump and Iranian President Masoud Pezeshkian have signed a fourteen-point memorandum of understanding at the Palace of Versailles, setting out terms for ending the war and reopening the Strait of Hormuz.
Iran's Supreme National Security Council has announced that Tehran's Persian Gulf Waterway Management Authority will now manage traffic through the strait, while the International Atomic Energy Agency says it is ready to begin overseeing the dilution of Iran's enriched uranium stockpile.
The deal gives both sides sixty days to resolve the future of Iran's nuclear programme — but some Republican lawmakers are already attacking the agreement over the billions of dollars that could flow to Tehran.
Mitch Mccann reports from New York.
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Mitch Mccann in New York says the decision to send the US Vice President to lead the sixty-day negotiations — rather than a team of lower-ranking officials — signals the White House wants the matter resolved as quickly as possible.
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