US President Donald Trump and Iranian President Masoud Pezeshkian have virtually signed a 14-point memorandum of understanding (MoU) aimed at ending hostilities between the two countries, reopening the Strait of Hormuz and launching negotiations on a broader agreement covering sanctions relief and Iran's nuclear programme.
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Trump signed the memorandum during a meeting with French President Emmanuel Macron in Paris on Wednesday, while Pezeshkian also signed the document. The agreement came into force immediately after both sides signed it, CNN reported.
The development marks a significant step towards de-escalation following months of heightened tensions in the region and military confrontations involving Iran, Israel and the United States.
The memorandum, referred to as the 'Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran', lays out a framework for a ceasefire, economic cooperation, sanctions relief and negotiations on Tehran's nuclear activities.
Confirming the development, Trump told reporters that the agreement had been signed during his visit to Paris.
"It's signed. Signed it in Versailles, I just signed it," Trump said.
