Middle East crisis live: Tehran says it will charge ships in strait of Hormuz after 60 days; US-Iran presidents sign peace deal

Chief Iranian negotiator says key waterway will ‘not return to prewar conditions’ after 60-day window; both sides sign memorandum of understanding extending truce

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Pakistani prime minister Shehbaz Sharif said earlier in the day that the agreement between the US and Iran agreement was taking “immediate effect” after being signed by both sides.

He said on social media that “as a first step, Islamic Republic of Iran will instantly reopen the Strait of Hormuz and the United States of America will immediately lift the naval blockade”.