The Trump administration has promised to withdraw its forces from areas surrounding Iran, Bloomberg reported, citing a clause in the memorandum of understanding between the US and Iran to end their war.

The clause states that the US will withdraw its forces within 30 days of a final peace agreement. The MOU is due to be formally signed in Geneva on Friday.

US president Donald Trump hopes that the Iran war would be in the “rearview mirror” after the official signing of the peace deal, details of which remain unknown to US lawmakers.

When asked if the president would now focus on the Ukraine war, Trump responded: “We were focused on Iran. That’s going to be in the back, in the rearview mirror…. I want to do whatever I can.”

Few details have been publicly released about the initial deal, but it is believed to include reopening the Strait of Hormuz to global oil shipments, financial incentives for Iran if it meets certain benchmarks, and a 60-day period for talks on ending the country’s nuclear programme.

The deal will be formally signed on Friday in Geneva.

A $300bn private fund designed to kickstart investment into Iran is outlined in the US-Iran framework agreement and more than half that sum has already been committed, Reuters reported.

The fund is designed to give both sides an economic incentive to conclude a final deal to end the war, the agency reported, citing sources.

More than half of the amount has already been committed and it will be comprised entirely of private-sector funds, according to the report.

US and Iranian officials said on Sunday they had agreed ⁠on a framework to end their war, which began when US and Israeli forces attacked ​Iran ⁠on 28 February, halt the US blockade of Iran and reopen the Strait of Hormuz, a key supply route for global oil and gas.

The new fund is a private investment vehicle, not a reconstruction or reparations programme and will not include any government money or grants, the source ⁠said, adding that companies based in the US, the Gulf Arab states, Asia, South America and Africa have agreed to commit financing.

Investments pledged span ​energy, logistics, manufacturing and ⁠transport, the source said.

A senior Iranian source told Reuters ‌that Tehran had originally sought $400bn as compensation for war damages from the US but Washington had said it would not provide it.

The idea for the fund, which is to be named the Reconstruction and Development Fund, then emerged.

A third tanker carrying one million barrels of Iranian crude oil has reportedly sailed past the US navy blockade in the Gulf of Oman, Al Jazeera reported, citing TankerTrackers.

The maritime tracking service said the Sonia I vessel “exited the blockade line” at 1.11 GMT.

At least two other tankers carrying a total of 3.8 million barrels of Iranian oil exited the blockade line yesterday, according to the report.

Australia this morning relaxed its travel advice for several Middle ⁠Eastern countries, allowing Australians to transit through and travel to the biggest Gulf air hubs with the security of being covered by insurance.

Foreign minister Penny Wong said the previous “do not travel” advisory had been lowered for the United Arab Emirates, Qatar, Bahrain, Israel and Kuwait after the US and ⁠Iran reached an interim deal to end the ​war.

She ⁠said the advisory had moved to “reconsider your need to travel” to those countries, as the security situation could still deteriorate rapidly with little warning.

The removal ⁠of the “do not travel” warning is positive for Gulf airlines. They had carried more ​than half ⁠of all passengers flying from Europe ‌to Australia, New Zealand and Pacific Islands before the war began in late February, according to aviation data firm Cirium.

Many Australian travellers concerned about the risk of missiles and drones, ‌schedule disruptions and the lack of travel insurance coverage ‌had preferred flights on carriers like Qantas Airways, Singapore Airlines and Hong Kong’s Cathay Pacific Airways that transited in Asia, driving up airfares.

Israeli drone strikes targeted three vehicles in southern Lebanon, killing at least four people and wounding others, even as Donald Trump berated Benjamin Netanyahu for his attacks on Lebanon.

Two people were killed in a double-tap strike, with a drone ​hitting a car in the village of Mayfadoun followed by a second strike after ​people had gathered at the scene, Lebanon’s National News Agency reported.

Another drone strike on the town of ⁠Shoukin killed two other people, the agency said.

Fighting in Lebanon between Israel and Iran-backed Hezbollah ​has eased but has not completely stopped following the announcement of an interim peace deal between ​the United States and Iran on Monday.

Canadian prime minister Mark Carney has said that the US-Iran peace deal is a “game changer” and that Ottawa supports efforts to implement the truce.

“We’re very pleased with the deal that’s been struck. It sets the groundwork to ensure Iran doesn’t have a nuclear weapon, and could also enable a reintegration over time of the economies in the region as well as progress toward a settlement in Lebanon,” Carney told CNN.

The prime minister said he had seen the agreement and was “absolutely” supportive of it. The text of the deal has not been made public by the Trump administration.

Oil prices edged higher in early trade this morning, ​clawing back some of the previous session’s losses, as investors assessed whether the Iran ‌war will truly end and the Strait of Hormuz reopen.

Brent crude futures gained 47 cents, or 0.6 per cent, to $79.43 a barrel, while US West Texas Intermediate rose to $76.53 a barrel, up 48 cents, or 0.6 per cent.

Both benchmarks ​fell about 5 per cent for a second straight session yesterday to three-month lows on hopes ​a U.S.-Iran deal would allow oil flows through the Strait.

US Vice President JD Vance has said Iran will get certain benefits “if they behave.”

“There are all of these benefits contemplated that the Iranians can get if they behave.

“If they stop developing terrorism, if they stop funding terrorism, if they stop supporting the rebuilding of the nuclear arms program, they actually can get some real benefits”, Vance told Fox News Tuesday evening, local time.

“If they don’t do any of that stuff, they don’t get anything”, he added.