Trump says US‑Iran agreement moves to second phase

U.S. President Donald Trump announced at the G7 summit in Evian that the United States and Iran have signed a 14‑point memorandum of understanding and are now entering the “second phase” of the deal. The agreement commits Iran not to develop nuclear weapons, calls for the immediate reopening of the Strait of Hormuz, and pledges the removal of U.S. naval blockades. It also includes a plan for the United States and regional partners to provide up to $300 billion for Iran’s reconstruction and economic development, with the funds to be released once Iran satisfies the terms.

Trump warned that if Tehran fails to comply, the United States could resume military action, saying “we will bomb them again if they do not behave.” Vice‑president JD Vance echoed the message, describing the document as a “regional peace accord” that also covers Lebanon, Israel and Hezbollah. The deal was brokered with the help of Qatar, Pakistan and other Gulf states, and a digital signing ceremony was shown on the White House website.

Following the announcement, oil markets reacted sharply: Brent futures fell about 1.1 % to $78.66 a barrel and U.S. WTI slipped 1.3 % to $75.81 as analysts anticipate a surge in Persian‑Gulf oil supplies once the strait reopens. The United Nations Security Council is expected to endorse the agreement within the next 60 days, after which detailed negotiations on nuclear verification and sanctions relief will begin.