The latest reports suggest that the United States is expected to contribute $300 billion (equivalent to £223 billion) for the reconstruction of Iran as part of a new agreement brokered by President Donald Trump with Tehran.
The agreement, set to be officially signed in Switzerland, entails the full reopening of the Strait of Hormuz and has already been informally confirmed. President Trump announced the completion of the deal upon his arrival at the G7 summit in France, stating that the strait is already partially accessible.
Under the terms of the deal, all American and United Nations sanctions on Iran will be lifted once a final agreement addressing Iran’s nuclear activities is reached. Leaked drafts of an interim agreement, reportedly in alignment with the final document, outline the specifics of the agreement to end the conflict.
Additionally, Iran will have the freedom to sell its oil without restrictions as part of the deal, which also includes the promise to eventually remove all sanctions. This provision surpasses the 2015 Iran nuclear deal, which President Trump previously criticized as the “worst deal ever.”
Anticipated reactions to the agreement in Washington are expected to be highly critical as the U.S. and Iran prepare for 60 days of negotiations to finalize the agreement’s details.
The agreement is seen as a setback for Israeli Prime Minister Benjamin Netanyahu, who had committed Israeli forces to joint strikes with the U.S. at the war’s onset on February 28.
One of the agreement’s key provisions is the immediate cessation of hostilities in Lebanon between Israel and the Iranian-backed militia Hezbollah. While Iran insists on the withdrawal of Israeli forces, Israel maintains its stance to continue self-defense measures and retain control over significant portions of Lebanon.