Both President Donald Trump and Iranian President Masoud Pezeshkian signed an interim peace agreement to end the War in Iran, which entered its 111th day on Thursday.
Posting the text of the 14-point agreement on X, Pezeshkian wrote that the agreement “is a historical document and a message from a powerful Iran: Peace will be realized in the shadow of mutual respect.”
The terms include “the immediate and permanent termination of military operations on all fronts, including in Lebanon… and ensuring the territorial integrity and sovereignty of Lebanon,” the removal of the U.S. naval blockade of the Strait of Hormuz, a “mutually agreed plan with at least $300 billion” for the “reconstruction and economic development of the Islamic Republic of Iran” organized by the U.S. and “regional partners,” and a commitment from Iran not to “procure or develop nuclear weapons.” According to an anonymous source who spoke with Reuters, that $300 billion investment fund will be “a private investment vehicle” and will “not include any U.S. government money or grants.”
The agreement also includes 60 days of toll-free transit through the Strait of Hormuz, though Iran along with Oman could exert some kind of control over the sea passage afterwards.
Israel and its lobby in the U.S. reacted harshly to the deal, while Trump continued to distance himself from the coalition that most vocally supported war against Iran, with analysts noting a shift back toward his America First roots.
At the G7 conference Wednesday, Trump seemed to abandon various red lines on Iran which had been pushed by Israel and its lobby, including the previous demands that Iran give up all ballistic missiles and abandon all nuclear enrichment.
On Israel’s occupation and bombing of Lebanon, Trump said that “You have people living there, buildings are being dropped on top of them or right alongside of them,” adding “How would you like to live there? It’s so unfair, especially Beirut.”
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At least three people were killed Thursday by Israeli airstrikes on southern Lebanon, with at least 3,900 people reported killed by Israeli attacks since March 2.
Trump shot back at critics on Truth Social Thursday morning, writing that “These fools, who think I haven’t been tough enough on Iran, when the Stock Market Just Hit A RECORD HIGH, and Oil prices are “tumbling” down, are either jealous, bad people, or stupid. MAKE AMERICA GREAT AGAIN!!!”
Oil prices fell below $80 on the announcement of the deal’s signing. Brent crude oil was at $78.62 per barrel on Thursday while gas prices also continued to fall. AAA reported the national average price of regular gas at $3.99. Trump has said he wanted to end the war to avoid economic disaster.
