U.S. and Iran Sign Peace Deal

The United States and Iran are set to formally sign an interim peace deal on Friday in Geneva, with both sides claiming victory. The text of the memorandum of understanding, which opens 60 days of negotiations on Iran's nuclear program and other issues, has not been released.

President Donald Trump, attending the G7 summit in France, called the agreement a 'done deal' that will prevent Iran from developing nuclear weapons. Trump stated that the US will not pay war reparations or invest in Iran.

A draft seen by Bloomberg says the US and its regional partners will create a financing plan for Iran's economic rehabilitation. Vice President JD Vance confirmed that both Trump and Vance digitally signed the MOU on Sunday, along with Iranian parliament speaker Mohammad Bagher Ghalibaf.

Trump claimed the Strait of Hormuz will be fully open by Friday's signing. However, the deal postpones resolution of sanctions relief, the nuclear program, and the strait's future to a second phase.

Politically, the pact has drawn GOP criticism, with demands for a congressional vote amid concerns it favors Iran.