As they gather for the G7 summit in France, the leaders of the world’s most powerful countries are hoping to get more clarity on US President Donald Trump’s deal with Iran.
The basic contours of the agreement are known: the US will end its blockade of Iranian ports, Iran will reopen the Strait of Hormuz, and the two sides will begin 60 days of nuclear negotiations.
Trump said the full text of the agreement would be released “pretty soon” but likely after a formal signing ceremony on Friday, but more details could emerge from his meetings on Tuesday.
Here is what we know — and don’t know:
Strait of Hormuz
The US said the strait would reopen after the agreement is signed on Friday, with Trump declaring that passage would be “permanently toll free.”
But Iran said on Monday that Tehran will collect “fees” for maritime services offered alongside Oman, state-affiliated Tasnim news agency reported. It said these charges would not amount to “tolls”.
Safety will be key. CNN has previously reported that Iran has mined in the strait and international maritime and shipping organizations stressed that there is a difference between being allowed to pass and being able to do so safely.
Ceasefire
Pakistan, which brokered the agreement, said both sides have “declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.”
However, the agreement does not include a requirement that Israel withdraw from Lebanon, a senior US official said on Monday. Meanwhile, fighting continued overnight as both Israel and Hezbollah conducted strikes.
Nuclear issues
The US said Iran made assurances that it would never develop a nuclear weapon. But there are no concrete commitments around Iran’s nuclear program or its uranium stockpiles.
Sanctions and frozen funds
Iran said the 60-day nuclear negotiations will begin only after the US releases billions of dollars of frozen funds. But a US official said no money would be released without clear commitments by Iran.
US Vice President JD Vance said later on Monday that Iranians “could have access” to a Gulf nations-funded $300 billion reconstruction fund if they comply with the terms of the deal.
The economy
Oil prices fell to their lowest level since early March and the Dow clinched a record high Monday after the agreement was announced — however, a broader economic recovery will likely take months.
