The presidents of the United States and Iran have officially signed a memorandum of understanding aimed at ending their war and reopening the Strait of Hormuz.The agreement was due to be signed at an official ceremony in Switzerland on Friday, but the White House and Iranian state media confirmed it had been signed early.Earlier today, in a briefing with journalists including from the ABC, a senior US official read out the full text of the 14-point document.The agreement includes a commitment from the US and Iran to negotiate a final deal within 60 days.It says the Strait of Hormuz will be toll-free for those 60 days, but it leaves open the possibility that tolls may be imposed in the future. However, a senior US official expressed confidence that would not happen.It also includes a $US300 billion ($424 billion) reconstruction fund for Iran, but US officials say this does not mean the US will be financially involved.The document reiterates Iran's commitment that it will not procure or develop nuclear weapons, but it leaves the key questions around the nuclear program to final negotiations.The White House published the terms of its deal with Iran after days of fevered speculation and leaks about the pact.It was released moments after US President Donald Trump used a press conference in France, where he had been attending the G7 Summit, to reject criticism of the agreement and dismiss its detractors.The text of the memorandum of understanding (MOU), as read out during a phone briefing by a senior Trump administration official, is broadly in line with previous reporting.But there is more detail on some of the most contentious issues, such as the handling of Iran's enriched uranium stockpiles and the end to fighting in Lebanon.Before the MOU was signed, the US president had quipped that he was still considering whether to stay in Europe to personally attend the signing.He was asked whether an earlier decision to send his vice-president, JD Vance, was a way to insulate him if the agreement fell over."This way, if it works out, I take the credit. If it doesn't work out, I'm blaming JD," he said.Mr Trump also said Israel had seen a copy of the deal, despite Israeli media reporting its request for visibility had been rejected and Prime Minister Benjamin Netanyahu saying he did not know the full terms during a press conference earlier this week.What's changed in this version of the dealLebanonRead more The 'nuclear dust'Read more Management of the Strait of HormuzRead more Missiles and proxiesRead more What remains the sameThe substance of the rest of the deal remains broadly similar, and 60 days is a short time frame to achieve an agreement on some of the more intractable issues.The deal still sets out a commitment for $US300 billion ($424 billion) in financing for the rebuilding of Iran, with the specific details to be sorted out during the 60-day period.For most of the day, Mr Trump distanced himself from that detail and insisted the US would not be pouring money into Tehran.But he said he could not stop others from "investing" in the fund.The president also sought to differentiate giving US funds to Tehran from unfreezing Iranian assets, saying the latter belonged to the regime but had been seized.The full text of the dealParagraph 1Immediate and permanent termination of military operationsRead more Paragraph 2Respect each other's sovereignty and territorial integrityRead more Paragraph 3Final deal to be negotiated in 60 daysRead more Paragraph 4US to remove naval blockadeRead more Paragraph 5Iran to arrange safe passage of commercial vesselsRead more Paragraph 6$US300 billion of reconstruction and development in IranRead more Paragraph 7US to terminate sanctions against IranRead more Paragraph 8Iran to not procure or develop nuclear weaponsRead more Paragraph 9US and Iran must maintain the status quoRead more Paragraph 10Waivers for the export of Iranian crude oil and petrolRead more Paragraph 11US to unfreeze Iranian funds and assets Read more Paragraph 12Mechanism to monitor successful implementationRead more Paragraph 13US and Iran to negotiate final deal Read more Paragraph 14Final deal to be endorsed by United NationsRead more