Details of a US peace deal with Iran have finally been revealed after Donald Trump signed Iran’s memorandum of understanding, White House officials have confirmed.The 14-point memorandum of understanding, read out by a senior White House official, includes key agreements on Iran’s inability to ever have a nuclear weapon, a cessation in fire, the opening of the Strait of Hormuz, and a plan to “develop a definitive, mutually agreed plan with at least $300billion” to rebuild Iran.Exiting the Palace of Versailles after a dinner with French President Emmanuel Macron, Mr Trump told reporters: “It’s signed. Signed in Versailles. Just signed it.”And the plan was revealed while Mr Trump spoke at the G7 summit in France.There, he said the US would “bomb the hell” out of Iran if it didn’t abide by the agreement.On Sunday, Vice President JD Vance and Iranian parliamentary speaker Mohammad Bagher Ghalibaf signed the memorandum, witnessed by the President,Mr Trump signed the document on Wednesday evening, with Iranian President Masoud Pezeshkian also adding his signature.The ceasefire plan includes a halt in attacks on Lebanon, a point which may be questioned by Israeli Prime Minister Benjamin Netanyahu, who said he had not seen the document.The MOU was originally set to be signed at a summit in Geneva, Switzerland, but a spokesman for the Iranian foreign ministry has said the meeting and further talks were unconfirmed.”The Friday meeting was confirmed until a few hours ago, but when it was decided that the presidents of the two sides (Iran and the US) would sign the agreement, it was decided to pause consideration of the Friday meeting for now,” Iran’s Foreign Ministry spokesman Esmaeil Baghaei said.The Iranian foreign ministry has also said fees will be collected for safe passage through the strait after the 60-day period.”Iran has the right to sovereignty over the Strait of Hormuz and of course we will receive a fee for services,” Chief Iranian negotiator Mohammad Bagher Ghalibaf said on state television.The published version of the memorandum says Iran will “immediately take steps to ensure that the movement of merchant ships from the Persian Gulf to the Sea of Oman and vice-versa is resumed”.The foreign ministry spokesman added the strait is the “responsibility of Iran and Oman”, and has insisted Tehran must be able to sell its own oil free of sanctions and restrictions.A key point of the deal includes the US plan “together with its regional partners” to invest a hefty $300billion into Iran, but Mr Trump has denied this means the US will actually be giving the Middle Eastern country any of its own taxpayer money.Speaking at the G7 earlier today, Mr Trump said: “Unlike Barack Hussein Obama, who sent Iran pallets of cash, any relief they receive under this deal, they’ll have to get based on merit – and it won’t be from us.”We don’t have to give them anything. But some people may want to invest. Like, what are you going to do to say ‘you can never ever invest in a country,’ I mean, it’s pretty tough.”Underscoring the President’s remarks is former President Barack Obama’s Joint Comprehensive Plan of Action (JCPOA), which Mr Trump scrapped in 2018.That agreement, signed in 2015, handed Tehran $1.7billion and released about $50billion in frozen accounts.Mr Trump criticised his deal, which Iran also formally abandoned in 2025, saying the Iranians had “laughed at Obama, and they said: ‘He’s a stupid son of a b*tch’.”Under the JCPOA, Iran was restricted in nuclear refinement to 3.67 per cent purity, with a cap to total enriched uranium stockpile at 300 kilogrammes.The agreement has not addressed “nuclear dust”, as Mr Trump calls it, other than an agreement to “discuss the issue of enrichment and other mutually agreed matters”.The MOU will allow Tehran to continue the “current status quo of its nuclear programme”, with no new sanctions introduced by Washington until further negotiations.More to follow…