The deal sees both sides commit to further talks to reach a final agreement over the next 60 days and includes a $300 billion plan for Iran's reconstruction.

After months of predicting a nuclear deal with Iran was just around the corner, President Donald Trump appears to be testing whether military pressure can accomplish what diplomacy alone has not.

Analysts describe the agreement as a structure rather than a final settlement, with many important details still open to negotiation.

According to a US official and Iranian state media, officials from both countries electronically signed the MoU.

President Donald Trump warned Iran would face “ultimate consequences” if Tehran does not give up its nuclear ambitions, saying Iran must fully comply with the memorandum of understanding (MOU) to end the war,