US releases text of Iran peace plan as Trump says deal averts ‘worldwide depression’

Key Points:

• The Trump administration unveiled a 14-point agreement with Iran aimed at reopening the Strait of Hormuz and preventing a global economic depression, involving significant political and financial concessions to Iran.
• The deal includes a 60-day ceasefire, lifting a US naval blockade on Iranian ports, unfreezing billions in Iranian assets, and discussions on down-blending Iran’s highly enriched uranium under IAEA supervision to prevent nuclear weapon development.
• Trump acknowledged Iran’s right to enrich uranium for civilian use and indicated the US would not pressure Iran to abandon its ballistic missile program, sparking criticism from Israel and Republican hardliners.
• The agreement also includes provisions to restrain Iran’s allies like Hezbollah in Lebanon and ensures toll-free passage of ships through the Strait of Hormuz, with plans for further negotiations on Iran’s missile program and regional activities.
• G7 leaders, including France’s Macron, supported the deal as a step toward stability, while Iran’s negotiators called it a US failure; the deal is expected to be signed soon, possibly at a high-level meeting between US and Iranian presidents.