The agreement was signed on Wednesday at the historic Palace of Versailles in France, where Trump attended events marking the conclusion of the G7 summit. The document, finalized in both English and Farsi, outlines a 14-point plan that includes commitments from Iran to refrain from developing nuclear weapons and from the United States to ease sanctions and support economic reconstruction efforts.
“It’s signed,” Trump told reporters as he departed Versailles after a dinner hosted by French President Emmanuel Macron. “Signed it in Versailles, I just signed it.”
Photos released by Iranian state media later showed President Pezeshkian signing the same memorandum in Tehran, formally bringing the agreement into effect.
Key Provisions of the Agreement
According to the text of the memorandum, Iran has pledged that it will “not procure or develop nuclear weapons,” addressing one of the central concerns that fueled years of tensions between Tehran and Washington.
In return, the United States will issue waivers allowing Iran to resume oil exports and regain access to parts of the international banking system. The agreement also includes provisions for reopening the Strait of Hormuz, a vital global shipping route through which a significant share of the world's oil supply passes.
Another major component of the deal is a proposed $300 billion reconstruction fund for Iran. The fund, backed by the United States and regional partners, is expected to be discussed further during the next phase of negotiations.
The agreement also seeks to end military confrontations across the region, including in Lebanon, where hostilities involving Israel have continued in recent months.
Pakistan and Qatar to Host Follow-Up Talks
Pakistan, which played a key mediation role alongside Qatar during the negotiations, announced that the memorandum would take effect immediately.
Pakistani Prime Minister Shehbaz Sharif said the first steps would include Iran reopening the Strait of Hormuz and the United States lifting its naval blockade. He added that Pakistan and Qatar would host an official ceremony in Switzerland on Friday to commemorate the agreement and launch technical-level discussions.
“The signing of this agreement at the highest level demonstrates the commitment of both sides to a diplomatic resolution of the conflict,” Sharif said.
China Welcomes Deal
China also welcomed the breakthrough, describing it as a positive step toward regional stability.
Chinese Foreign Minister Wang Yi said in a phone call with Iranian Foreign Minister Abbas Araghchi that “the dawn of peace has arrived.” Beijing emphasized the importance of all parties honoring their commitments and ensuring the smooth reopening of the Strait of Hormuz.
China is one of the largest importers of energy shipped through the waterway and stands to benefit significantly from reduced disruptions in global energy markets.
Historical Echoes at Versailles
The signing also carried deep historical symbolism. Trump signed the memorandum in the same palace where former U.S. President Woodrow Wilson signed the Treaty of Versailles in 1919, formally ending World War I.
Historians have often debated the long-term consequences of that treaty, which imposed harsh penalties on Germany and contributed to political instability in Europe. The parallels were noted by observers as Trump completed the signing ceremony more than a century later in the same location.
Political Reactions in Washington
The agreement has already sparked debate in Washington.
Several Democratic lawmakers questioned whether the deal grants too many concessions to Iran, while some Republicans also voiced concerns. Others defended the agreement, arguing that it could reduce the risk of a wider regional conflict and help stabilize global energy markets.
French President Emmanuel Macron praised the accord, saying the 14-point framework “paves the way for lasting peace” and could help lower energy prices worldwide.
Looking Ahead
While the memorandum marks a major diplomatic breakthrough after months of conflict and uncertainty, challenges remain. Iranian Parliament Speaker Mohammad Bagher Ghalibaf warned that Tehran would only uphold its commitments if Washington fully implements its own obligations under the deal.
The coming weeks will likely determine whether the agreement evolves into a durable peace arrangement or faces the same obstacles that have derailed previous attempts at reconciliation between the two longtime adversaries.
For now, however, the signing at Versailles represents one of the most significant diplomatic developments in the Middle East in recent years, offering cautious hope that a new chapter in U.S.-Iran relations may be beginning.