US President Donald Trump and Iran's Masoud Pezeshkian sign an initial deal to end the war, with both sides committing to more talks to reach a final agreement over the next 60 days
That time frame is "extendable with mutual consent", according to the text of the 14-paragraph memo, shared late on Wednesday by US officials
The agreement also includes reopening the Strait of Hormuz, a $300bn (£224bn) plan for Iran's "reconstruction", and the US terminating "all types of sanctions" on Iran – here's what else is in it
Trump, who has warned Iran to stick to the terms of the deal, signed a copy of the document while at a dinner in Paris with French President Emmanuel Macron
An official signing ceremony, with US and Iranian representatives, had been expected on Friday – it is not clear if that will still happen
Edited by Andrew Humphrey
As we've been reporting, a US-Iran agreement to extend a ceasefire has come into effect and centres around 14 core points.
Among those will be the reopening of the Strait of Hormuz.
The US has said it will begin removing its naval blockade – with the agreement outlining that the blockade is set to end fully within 30 days.
Iran, separately, will "make arrangements using its best efforts" to allow safe passage of commercial vessels through the Strait without charges for 60 days.
Among other points, Iran has agreed to not procure or buy a nuclear weapon while the US will terminate all economic sanctions against Iran.
The two countries have agreed to commit to working towards a final deal in a "maximum" of 60 days – this deadline is extendable if there is mutual consent.
Our White House reporter has unpicked the agreement in more detail.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said that even if there is a final peace agreement, "it is still not trustworthy"
The memorandum of understanding between the US and Iran has been signed. But distrust remains between the two countries – and both warn that hostilities could resume.
As details of the deal were revealed at the G7 summit in France, President Donald Trump warned the US would "bomb the hell" out of Iran if it didn't abide by the terms of the deal.
And Iran's parliamentary speaker,, and key negotiator, Mohammad Bagher Ghalibaf, who agreed the deal with the Trump administration, told state broadcaster Fars his distrust of the US remained, and Iran's "finger is on the trigger".
Welcome back to our live coverage as a US-Iran agreement to extend the ceasefire has come into effect having been signed last night.
The so-called Memorandum of Understanding was signed by US President Donald Trump while attending the G7 summit in Evian-les-Bains in France.
The 14-point agreement says that Iran has agreed to not procure or buy a nuclear weapon, and also proposes a $300 billion fund for the "reconstruction and economic development" of the country – although the US is not required to contribute.
However, there are a number of issues which as of yet remain unresolved, including the key issue of Iran's nuclear programme, and which are still to be negotiated over an extendable 60-day period.
North America correspondent, travelling with the president
After Donald Trump's long day at the G7 summit in Evian-les-Bains, France – attending a morning plenary session, meeting with President Abdel El-Sisi of Egypt and Prime Minister Narendra Modi of India and giving a news conference on the US's agreement with Iran – the US president took a short flight to Paris.
Then, it was time for dinner at the historic Versailles Palace with French President Emannuel Macron and French first lady Brigitte Macron – which didn’t start until 10 o’clock hour, in true European fashion.
At some point, the president took time out from his meal to sign the memorandum of understanding with Iran.
It is after midnight now, and the American and French president have just left the opulent estate, as those of us in the White House's travelling press pool follow along in vans for the 20-minute drive back to Paris’s Orly airport.
With an approximately seven-hour flight still ahead, the 80-year-old president may not arrive back in Washington until just hours before dawn, as the clock ticks on the US and Iran's agreed-upon – but extendable – 60 days to come to a more permanent deal.
We are now closing our live coverage on the US-Iran deal. You can catch up on all the details in our earlier post here, and in our story: What's in the US-Iran agreement that's now in effect
Iranian Foreign Ministry spokesperson, Esmail Baghaei, says on Telegram that if Israel continues to attack Lebanon, it will be considered a breach of the memorandum.
Israeli forces carried out new strikes in southern Lebanon on Wednesday, state media says, despite renewed criticism from Trump of Israel's actions in the country.
Both Israel and Hezbollah have carried out attacks against each other since the US-Iran agreement was announced on Sunday night.
Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, says in an interview that aired on state TV that the Strait of Hormuz "will not return to pre-war conditions".
He adds: "Iran has the right to sovereignty over the Strait of Hormuz and of course we will receive a fee for services."
The country will charge ships crossing the key passage after 60 days.
In the longer-term, the deal signed by Trump notes that Iran will work with Oman and other Gulf states to set up a "broader" agreement on how to manage the Strait of Hormuz.
The US believes that Iran will assert its rights "aggressively", but that the Gulf states would "never" accept a future in which there is a tolling system in place, the official said.
You can read more about the agreement here.
Donald Trump has just left the Palace of Versailles in France, where he was having dinner with French President Emmanuel Macron after the G7 summit.
Asked about the deal before getting into the presidential motorcade, Trump told reporters: "It's signed. Signed in Versailles. Just signed it."
We can bring you a bit more information now about how the so-called memorandum of understanding has come into effect.
US President Donald Trump attended a post-G7 dinner at the Palace of Versailles in France on Wednesday night.
Also on Wednesday night, Trump signed the Iran document, the White House tells the BBC. It has also been signed by Iranian President Masoud Pezeshkian, according to the White House.
The signing by the two leaders comes after Iranian parliamentary speaker Mohammad Bagher Ghalibaf and US Vice-President JD Vance electronically signed the agreement on Sunday, the White House explains.
Earlier, both Trump and Iranian officials indicated that there would be a formal signing ceremony sometime later this week. It's unclear whether that will still go ahead now.
The agreement between the US and Iran is now in effect, the White House tells the BBC, kick-starting the extendable 60-day period for the US and Iran to come to a more final deal.
Senior US officials have revealed the contents of the memorandum of understanding between the Trump administration and Iran ahead of an expected signing ceremony in Switzerland on Friday.
The key parts of the agreement include Iran's inability to ever have a nuclear weapon; traffic returning to the Strait of Hormuz, which will remain toll-free for at least 60 days; the lifting of US sanctions; and an end to hostilities, including in Lebanon.
The details were revealed while Trump spoke at the G7 summit in France, where he said the US would "bomb the hell" out of Iran if it didn't abide by the terms of the deal.
In a later retort, Iran's parliamentary speaker and key negotiator Mohammad Bagher Ghalibaf, who agreed the deal with the Trump administration, told state media his distrust of the US remained, and Iran's "finger is on the trigger".
Our Washington correspondent writes the agreement leaves all the key questions around Iran’s nuclear programme to the final negotiations.
Arriving in Paris ahead of a state dinner with French President Emmanuel Macron at Versailles, Trump said the allotted 60-day negotiation period was not a hard deadline for Iran.
As for Friday, while US Vice-President JD Vance was originally slated to be present at the ceremony, Trump hinted that he "might" stick around.
Gary O'Donoghue
Chief North America correspondent
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, on Tuesday – the waterway has been a key sticking point between the US and Iran
We’ve had the most extraordinary briefing call with some senior US officials here in Washington, and they read out – verbatim – what they say is the text of the memorandum of understanding with Iran.
There are three key things that stood out from it for me:
On the nuclear question, the senior officials say Iran has promised not to develop or procure a nuclear weapon. Donald Trump has made that his number one condition for a deal ever since the start of the war in February. They also said that Iran's enriched uranium will be "down-blended" – meaning diluted – on site, under the auspices of the International Atomic Energy Agency (IAEA). Originally, the US had demanded that it was removed from the country, so that’s new.
On the question of the reopening of the Strait of Hormuz, the senior officials said that there would be no charges for ships going through for 60 days. After that, it's up to Iran and its neighbours to negotiate what happens. That leaves open the possibility of charges in the future, where there were no charges before the conflict.
Then there's the controversial $300bn reconstruction fund. President Trump had described that as "fake news", but it is in the document. The senior officials insisted America doesn't need to pay "a cent" towards that –and it will depend on Iran “behaving", as they put it.
This agreement will be scrutinised line by line over the coming days. And the big question will be, what exactly did the US get out of its war with Iran?
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Three key takeaways from US-Iran deal
Iran's top negotiator Mohammad Bagher Ghalibaf, who agreed the deal with the Trump administration, says his distrust of the US remains, and Iran's "finger is on the trigger".
In comments made to state broadcaster Fars, Ghalibaf – Iran's parliamentary speaker – says that even if there is a final peace agreement, "it is still not trustworthy".
"Our finger is on the trigger, and if the enemy does not understand the language of logic, we will enter again with the language of power," he says.
Ghalibaf's comments come after Trump said the US would "bomb the hell" out of Iran if it didn't stick to the terms of the deal.
Here are some more lines now from US President Donald Trump's press conference earlier.
Trump was asked whether he had an update on the investigation into a strike near a primary school in southern Iran where Iranian authorities said 168 people, including around 110 children, were killed.
He described it as a "strange question" to ask, before saying the strike remains under investigation.
Trump continued: "What about the thousands of people that were killed by Iran? Mistakes are made, war is nasty, but I know it is under investigation."
He went on to say that the reporter should ask Defense Secretary Pete Hegseth for a further update.
For context: Experts previously told the BBC that a US Tomahawk missile hit a military base near a primary school in southern Iran where Iranian authorities said 168 people, including around 110 children, on 28 Feb.
You can read more about that strike in our BBC Verify report.
The continued presence of Israel in Lebanon would be a "violation" of the deal to end the war, Iran's foreign ministry says.
According to Iranian state TV, foreign ministry spokesperson Esmail Baghaei says "necessary measures" will be taken if Israel continues to "occupy" Lebanon.
Lebanon has emerged as a key sticking point in the deal – Israel says it is not included, while Lebanese President Joseph Aoun says his country's talks with Israel are "independent" to the US-Iran deal.
But Iran and mediator Pakistan insist a ceasefire in Lebanon remains central to the memorandum of understanding set to be signed by US and Iranian officials as early as tomorrow.
A US version of the deal – shared with the BBC by senior officials – calls for the "immediate and permanent termination of military operations on all fronts, including in Lebanon".
Donald Trump has arrived at Versailles for a state dinner hosted by Emmanuel and Brigitte Macron.
The event follows the US president's speech at the G7 summit in which he spoke at length about his deal with Iran.
Earlier, the French president also addressed the summit in Évian, in which he lauded US unity with Europe's support for Ukraine.
Senior reporter, BBC Persian
Iran’s official news outlet IRNA (Islamic Republic News Agency) has released a version of the memorandum of understanding minutes ago.
Comparing side-by-side what the IRNA has published with the 14-paragraph version provided to the BBC by senior US officials, it seems like the two are almost identical.
The only minor difference in the Iranian version is in paragraph six, which says the “United States of America undertakes with regional partners to develop a definitive mutually agreed plan with at least USD 300 billion for the reconstruction and economic development of the Islamic Republic of Iran. Mechanism for the implementation of this plan will be finalized as part of the final deal within 60 days."
The paragraph's ultimate sentence in the US version reads: "All required licenses, waivers, and permissions needed for the relevant initial transactions will be granted by the United States of America."
In the version published by IRNA, the word “initial” is missing from that last line. But, it doesn’t seem like anything major that makes an actual difference in the meaning.
President Trump has said 60 days is not a hard deadline for a final agreement with Iran.
Asked by a reporter after he landed in Paris if he sees a hard deadline for the agreement, Trump said: "No, I don't. It could take longer."
The memorandum of understanding as it stands says the two sides would aim to reach an agreement within 60 days.
Trump also said that if other countries have ballistic missiles, it's "a little bit unfair" for Iran to have none.
He added that "a ballistic missile is not the same thing as what we're talking about when we talk nuclear. But if Saudi Arabia and Qatar and they all have some, I would say in relative proportion, I think it's OK."
He was also asked by a reporter how long the US would leave its military in the Gulf, to which he replied, "I would say a little while" after the deal is agreed. 
Reporting from Geneva
The head of the International Atomic Energy Agency says the agreement due to be signed between the US and Iran on Friday is "a good step forward", but warned there was still important work to do.
Rafael Grossi was speaking to the BBC in Geneva before heading to the Bürgenstock resort, where the signing will take place.
Asked if the terms were better or worse than the original deal to limit Iran’s nuclear capability (agreed under President Obama and which President Trump abandoned) Mr Grossi said there could be no comparison.
This agreement was a "post-war agreement" he said, whereas the previous one had been designed to allow Iran to proceed with some nuclear capability, for peaceful purposes only.
This one would involve an inventory of what remained of Iran’s highly enriched uranium, he added, and would be complex because of the destruction of infrastructure during the conflict.
Mr Grossi expects the IAEA to be tasked with inspecting what’s left of Iran’s nuclear facilities, and stressed that "if there is non-compliance, we (will) say it".
Mr Grossi is a candidate to be the next UN secretary general, and his reluctance to compare the previous Iran nuclear agreement (which took years to negotiate and which most analysts agreed was largely successful) may be because he does not want to say anything which could be seen as criticism of the US – a country with the power to veto his candidacy at the UN Security council.
US President Donald Trump is pictured at Geneva Airport, ahead of his flight to Paris Orly Airport. Geneva Airport is around an hour's drive from Évian in France, where the G7 summit was held.
US President Donald Trump has now arrived in Paris, heading for a state dinner at Versailles with French President Emmanuel Macron.
His departure from Évian via Geneva Airport caps an eventful G7 summit that saw him announce details of the US-Iran ceasefire agreement, and threaten to "bomb the hell" out of Iran if it did not stick to its terms.
The deal is set to be formally signed in Switzerland on Friday, with the Iranian foreign ministry saying it could be signed by the two countries' presidents.
Trump hasn't confirmed whether he'll "stick around", but says he "might".
Asked whether the American public thought the war in Iran was a humiliation for the US, pollster Larry Sabato says: "On day one it was already unpopular. This is the only modern war where Americans sided against it from the beginning."
He adds: "Even some of the MAGA forces, the strong Trump forces, understand that while this didn't turn out to be a forever war, at least not yet, it also violated the general pact they had with Trump in the elections, which is that he was going to avoid the foreign policy mistakes and unwise wars of presidents like George W Bush."
Asked where it leaves the neocons, the faction of international interventionists in the Republican Party that is most closely identified with Bush and the Iraq War, Sabato says that "the neocons have never liked Trump and this gives them the fuel they need".
Sabato is director of the Centre for Politics at the University of Virginia. He is an expert in public opinion and research.
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