Trump signs US-Iran peace agreement

The deal would extend the ceasefire by 60 days and reopen the key Strait of Hormuz shipping lane, which Iran has effectively blocked since the US and Israel attacked Iran in February.

Trump told the G7 summit in France on Wednesday that a memorandum would be signed within the next 48 hours.

The US President signed the 14-point Memorandum of Understanding with Iran on Wednesday evening, according to White House officials.

Key points include an end to fighting in Lebanon and a $300bn reconstruction fund for Iran.

Negotiators will address difficult issues like the future of Iran's nuclear programme during the next phase of talks to be held during the 60-day window.

The fighting between US ally Israel and the Iran-allied Hezbollah militia in Lebanon, which has uprooted 1.2 million people, also remains a key sticking point.

Speaking at the G7 summit in France on Tuesday, Trump criticised Israel for it's actions in Lebanon, stating its war against Hezbollah, the Iran-backed militia in Lebanon, had gone on for too long and too many civilians had been killed.

On Tuesday Iran's Foreign Minister said Israel's continued occupation of Southern Lebanon would violate the terms of the deal.

But Israeli Prime Minister Benjamin Netanyahu said that Israel would keep its forces in southern Lebanon and would retain the right to respond to Hezbollah attacks.

A US official said an Israeli withdrawal from Lebanon, which it invaded in March after Hezbollah joined the war, was not a condition of the deal.

The exiled Crown Prince of Iran told LBC on Wednesday that the Iranian regime “cannot be trusted” and accused them of just “buying time”.

He told LBC's Andrew Marr: “If you examine the past four decades, the overall behaviour of this regime, we can say that they are not to be trusted.

“This is why I think this deal will not come through. Time and again, we've seen that the only strategy has been to buy time."