US lifts naval blockade as Iran’s supreme leader says Trump made deal ‘out of desperation’

The US-Iran agreement to extend the ceasefire centres around 14 core points, including an end to conflict “on all fronts”, an end to the blockade, the reopening of the Strait of Hormuz, for Iran to never have a nuclear weapon, and commits a $300bn fund for the “reconstruction and economic development” of the country – although the US is not required to contribute.