Morning update: US-Iran memo takes effect

The American-Iranian memorandum has come into effect, following official signatures from the leaders of both countries. It brought an end to four months of escalation after being signed at the Palace of Versailles, with Iran setting a 60-day deadline for final agreement negotiations and the immediate resumption of oil sales. International efforts were also observed to reaffirm support for Ukraine, amid a decline in oil prices following the agreement, which aims to end the dispute between Washington and Tehran and reopen the Strait of Hormuz.

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