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SCMP Reporter

Iran and the US have signed a peace deal that will take immediate effect, with Iran reopening the Strait of Hormuz and the US lifting its naval blockade, Pakistan’s Prime Minister Shehbaz Sharif announced.
Sharif, a chief mediator since the US and Israel entered the war with Iran at the end of February, made the announcement in a social media post on Thursday morning.
“The Memorandum has been signed by honourable Presidents of both the countries and also endorsed by me as the mediator,” he wrote.
“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.”

According to an outline of the agreement released by the US on Wednesday, the two sides will continue negotiations to achieve the final deal in a maximum of 60 days – extendable with mutual consent.
It states that the US will terminate all sanctions against Iran, including United Nations Security Council resolutions and all unilateral US ones, on an agreed schedule within the final deal.
Washington has also agreed to fully unfreeze and make available all Iranian funds and assets upon implementation of the agreement.
US Treasury will issue waivers for Iranian crude, petroleum products, derivatives and all associated services – including banking, insurance and transport – between the signing of the memorandum of understanding and until sanctions are terminated.
Upon signing the memorandum, the US is to immediately begin lifting its naval blockade against Iran, with full removal within 30 days. Vessel traffic during this period is to return to pre-war levels.
The US will also commit to withdrawing its forces from near Iran within 30 days after the final deal, according to the outline.
Iran, meanwhile, will “use its best efforts” to ensure safe, fee-free passage for commercial vessels between the Persian Gulf and the Sea of Oman for 60 days.
Traffic will begin immediately, with full operation within 30 days after technical, military and demining obstacles are cleared.
Iran will also engage Oman and other Gulf states in dialogue on the future administration and maritime services in the Strait of Hormuz.
According to the outline, Iran has also reaffirmed it will not procure or develop nuclear weapons. And the two sides have agreed to resolve enriched material stockpiles via a mutually agreed mechanism and to discuss Iran’s nuclear needs and enrichment in the final deal.
Meanwhile, the outline states that Iran will keep its current nuclear posture, while the US will not impose new sanctions.

A video posted on social media by White House deputy chief of staff Dan Scavino shows US President Donald Trump signing the memorandum of understanding on Wednesday evening at the Palace of Versailles in France, where he is attending the Group of 7 summit.
Iranian state agency IRNA also released photos showing President Masoud Pezeshkian signing the memorandum of understanding.



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Iran and US sign peace deal, Strait of Hormuz to immediately reopen: Pakistan

The Strait of Hormuz is to immediately reopen under the agreement. Photo: Reuters

Pakistani Prime Minister Shehbaz Sharif. Photo: Violaine Martin/UN Photo/dpa

US President Donald Trump signs the memorandum of understanding with Iran at the Palace of Versailles in France, where he is attending the G7 meeting. Photo: X/s@Scavino47

Iranian President Masoud Pezeshkian after signing the agreement with the US. Photo: IRNA Images

US, Pakistan announce peace deal with Iran is ‘complete’

The conflict ground shipping through the Strait of Hormuz to a standstill. Photo: AP

Iranians walk past a hoarding featuring Iran’s national flag at Enqelab Square in Tehran, Iran on Sunday. Photo: AFP

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Men ride a motorcycle past buildings damaged by Israeli strikes in Nabatieh, Lebanon, on Wednesday. Photo: Reuters 

A woman looks at smoke rising in southern Lebanon from the Israeli side of the border on Wednesday. Photo: Reuters

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US President Donald Trump, flanked by US Secretary of Commerce Howard Lutnick and Secretary of State Marco Rubio during a media conference at the end of the G7 summit. Photo: AP

French President Emmanuel Macron and US President Donald Trump, as seen near a window at the Palace of Versailles. Photo: Reuters

Iran’s President Masoud Pezeshkian holding a document showing a memorandum of understanding he signed. Photo: AFP

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Diplomacy

Prime Minister Shehbaz Sharif makes the announcement, as both sides release photos of the memorandum of understanding being signed


Prime Minister Shehbaz Sharif makes the announcement, as both sides release photos of the memorandum of understanding being signed.


Iran and US sign peace deal, Strait of Hormuz to immediately reopen: Pakistan

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Prime Minister Shehbaz Sharif makes the announcement, as both sides release photos of the memorandum of understanding being signed

Prime Minister Shehbaz Sharif makes the announcement, as both sides release photos of the memorandum of understanding being signed