US publishes its peace deal with Iran

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The US has disclosed the contents of its deal with Iran. It provides for a ceasefire that includes Lebanon, an end to the US naval blockade and a temporary toll-free opening of the Strait of Hormuz. It also says the sides should reach a “final deal within 60 days”. The US has agreed to lift “all” sanctions on Iran and release its frozen assets, a major reversal of existing policy. In return, Iran has agreed to “not procure or develop nuclear weapons”, language that reflects the Obama-era deal that Trump ripped up. The future of Iran’s civilian nuclear programme will be decided in the final deal. Many of these details had already been leaked. But there will be questions about a $300bn fund for Iran’s reconstruction, to be developed by the US and regional partners. Trump has dismissed reports that the US will contribute to the fund as “false”. Iran, meanwhile, said it would start charging fees in the Strait of Hormuz after the 60-day window.