America and Iran signed a 14-point preliminary agreement to end their almost-four-month war. Donald Trump and Masoud Pezeshkian, Iran’s president, signed the document separately. The Strait of Hormuz will be reopened to shipping as peace talks begin that aim for a final deal in 60 days. A $300bn reconstruction fund for Iran is one sticking-point. It was unclear what this would entail, but Mr Trump said America would not contribute. America may lift sanctions on Iran, however, depending on negotiations about its nuclear programme. Earlier, Mr Trump noted that the agreement was only a memorandum of understanding, and “if they don’t behave, we’ll go right back to dropping bombs”. Back home, Republicans expressed dismay at the deal.
The draft agreement also calls for an end to the fighting in Lebanon, though there was some debate as to what that means. Mike Huckabee, America’s ambassador in Jerusalem, said it did not refer to Hizbullah, which continues to fire missiles into Israel. And Israeli and American officials suggested it did not entail Israel pulling out from southern Lebanon, where it has been fighting Iran’s proxy militia. Talks progressed on a ceasefire between Israel and Lebanon that may allow residents who fled the area to return home.
