It was never likely that the Islamic Republic of Iran would gift Donald Trump a peace agreement, even a measly one, for his 80th birthday, something he could immediately proclaim after the “historic” cage fight on the south lawn of the White House. However, having falsely declared 39 times since he went to war with Iran in February that peace was at hand, this time might really be different.

If the Pakistani authorities brokering the deal, the Iranians and the Americans all say that the “memorandum of understanding” (MoU) will indeed be signed by the end of the week, then there is, at last, some cause for realistic optimism.

However, caution remains – because the indications are that the as-yet unpublished and (curiously) unleaked MoU will settle comparatively little. It will, in essence, be an undertaking to talk about some future, more durable agreement. If recent history is anything to go by, the obstacles to that will remain formidable. MoU or not, an unstable region has been rendered even more dangerous by the unforced war of choice launched by Israel and America. The world will be coping with its repercussions for months, if not years.

The US said that ships will move toll-free through the Strait of Hormuz under an Iran peace deal signed by president Donald Trump, and insisted Tehran would have to fulfill its commitments before getting any economic benefits.

They included a possible $300bn reconstruction fund for the war-battered country, but the release of funds will be “tied to performance,” a senior Trump administration official said in a call with reporters.

Iran’s foreign ministry said that the deal would allow it to charge maritime service fees on ships transiting the Strait of Hormuz, rather than imposing “tolls”.

Republicans on Capitol Hill said they need more information about the agreement between the US and Iran announced by president Donald Trump, and some are expressing skepticism as they ask the White House for details.

The agreement announced on Sunday to end the war in Iran, set for a ceremonial signing on Friday in Geneva, is centred around reopening the Strait of Hormuz and lifting the US naval blockade in the region, along with financial incentives for Iran if it meets certain benchmarks.

But Senate Republicans and Democrats who returned to Washington said there were still many unanswered questions about the deal and they need thorough briefings before it is finalised.

“I just don’t know enough about it,” Senate majority leader John Thune told reporters in the Capitol. “Even the people who follow this stuff closely up here don’t know that much about it.

“I think that my understanding of what it entails — and, again, not having seen anything — it would require, I think the issues are going to be compliance, and how are you going to enforce that,” Thune said.

Thom Tillis of North Carolina asked: “If it’s a secret deal then how can I take it seriously?”

Iranian-American congresswoman Yassamin Ansari welcomed the US-Iran deal but said it was achieved at an enormous cost.

“An end to the war is a positive step,” Ansari said in a post on X.

“Congress must have an extensive review of any final agreement signed with the Islamic Republic,” the Democratic congresswoman added.

She said that the deal “comes after a conflict that inflicted enormous costs and leaves both the United States and the Iranian people worse off”.

“Tremendous loss of life, international instability, and skyrocketing gas prices. This never should have happened in the first place.”

Oil prices rebounded on concerns about the lack of details in a preliminary agreement ending the war between the US and Iran and the realisation the ​resumption of supply through the key Strait of Hormuz may take longer than ‌thought.

Brent crude futures gained 26 cents, or 0.3 per cent, to $83.42 a barrel and US West Texas Intermediate rose to $81.12 a barrel, up 46 cents, or 0.3 per cent.

Even with ​the current agreement, ⁠it remains unclear how quickly the curtailed supply will be able to return to the market.

US vice president JD ⁠Vance told Fox News that president Donald ⁠Trump may decide ​to ⁠release Washington’s ‌agreement with Tehran before Friday.

The ‌agreement, which ‌was electronically signed ⁠by leaders in the US and Iran, is expected to ‌be signed ​in ‌person ⁠on Friday.

Iran kicked off their World Cup in Los Angeles in front of a crowd that consisted of both fans cheering them on and Iranian Americans waving symbols of protest against the Tehran government.

The run-up to the ⁠match has been one of extraordinary drama off the pitch, with the team playing on US soil barely 24 hours after a peace deal was announced to end the war that began when the US and Israel attacked Iran in February.

The footballers had flown into the US on Sunday from their training base in Tijuana, Mexico.

Los Angeles is home to the biggest Iranian community outside Iran, many of whom fled the country after the Islamic Revolution.

⁠Iranian American football fans say they have been left torn between excitement ​at ⁠seeing the team on the world’s biggest stage, anger at Tehran’s crackdown on protesters and concern about Washington’s bombing campaign.

Donald Trump warned in an interview with the New York Post before leaving for the G7 summit that he would “have ⁠no choice” but to impose 100 per cent tariffs on French wine unless Paris eliminates its digital tax ​on US ⁠tech giants.

In a social media post just before arriving at the summit, the US president turned to a subject that has been a regular source of tension with centrist European allies: immigration.

“Sadly, if you import people from Third World Countries, you quickly become a Third World Country — And there’s not a thing you ⁠can do about it”, he wrote.

Trump’s tariff threats, which came ahead of a summit that serves as the diplomatic culmination of Emmanuel Macron’s second and final term, ​represent a blow ⁠for the unpopular French president. He steps down next year.

Macron is ‌increasingly seen as a lame duck domestically but still has pull on the global stage, and was able to get Trump to agree to a glitzy dinner at the Palace of Versailles on Wednesday to mark 250 years of US independence.

Macron told French television channel TF1 that France would not yield to Trump’s tariff threats, adding, “Tariffs don’t ‌do anyone any good, especially tariffs between G7 countries”.