US and Iran sign ceasefire MOU with talks on permanent truce to follow

Washington and Tehran have signed a memorandum of understanding for a US-Iran interim peace deal to take effect immediately.

Reports suggest the early signing by both sides was aimed at reopening the Strait of Hormuz as soon as possible.

US officials have also disclosed details of the memorandum, including Iran's commitment not to produce nuclear weapons.

At the Palace of Versailles in Paris, US President Donald Trump signed the ceasefire memorandum with Iran during a dinner hosted by French President Emmanuel Macron on Wednesday -- also attended by US Secretary of State Marco Rubio.

Footage of the signing was uploaded by the White House Deputy Chief of Staff.

(Reporter: Mr. President, did you sign the deal?)

DONALD TRUMP: "It's signed, signed in Versailles."

Iranian media also released photos of President Masoud Pezeshkian signing the memorandum.

Pakistan, acting as mediator, said the agreement takes immediate effect.

The warring parties will begin formal negotiations over the next 60 days toward a permanent ceasefire agreement.

The US and Iran had originally planned to hold a signing ceremony in Switzerland on Friday.

After attending the G7 summit in Evian-les-Bains in eastern France, Trump earlier told reporters aboard Air Force One en route to Paris that the memorandum would be signed over the following two days.

TRUMP: "Over the next, I'd say, 48 hours. I'd say 48 hours."

But the agreement was ultimately signed ahead of schedule.

Analysts believe this was driven by a shared desire to reopen the Strait of Hormuz as soon as possible.

US officials have also unveiled the much anticipated 14-point memorandum, outlining the terms of the agreement.

Both the US and Iran, along with their respective allies, must begin an immediate and lasting ceasefire across all fronts, including Lebanon.

The US will also lift its maritime blockade on Iran with immediate effect.

In return, Iran will restore commercial shipping traffic through the Persian Gulf and the Gulf of Oman to pre-conflict levels within 30 days and will be responsible for clearing naval mines.

On the nuclear issue, Tehran reiterated that it will never develop nuclear weapons.

Both Washington and Tehran said remaining disputes related to uranium enrichment will be addressed in negotiations towards a final agreement.

Observers believe Iran appears to have gained more benefits compared with before the conflict, while Trump's earlier pledge to eliminate Iran's nuclear capabilities seems to have faded.

Pakistan's Prime Minister Shehbaz Sharif welcomed the diplomatic resolution.

Pakistan and fellow mediator Qatar will proceed with a formal ceremony in Switzerland on Friday to mark this resolution.

Trump has previously expressed gratitude to China and Russia -- both friendly with Iran -- for largely staying out of the conflict, noting that their involvement would have created significant resistance for the United States.

Trump also warned that if Tehran violates the memorandum, the US would respond with overwhelming force.

TRUMP: "If you don't adhere to the agreement I don't want to do that, but we're going to bomb the hell out of you. And I don't think they're going to veer from the agreement."

Leaders of the G7 nations expressed support for the MOU.

French President Emmanuel Macron said the conflict has brought serious economic consequences globally, and that this agreement would help restore stability.