The US and Iran signed an interim agreement to end their war and reopen the Strait of Hormuz, Bloomberg reported Wednesday.
President Donald Trump signed the memorandum of understanding at Versailles near Paris, while Iranian officials also approved the deal electronically, according to the report.
The agreement calls for the rapid reopening of the Strait of Hormuz and immediate sanctions waivers for Iranian oil exports, with talks on nuclear issues to follow.
Attention is now turning to whether shipping traffic will resume through the waterway, which had been largely avoided during months of blockades by both the US and Iran.
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