The presidents of the US and Iran have signed an initial peace deal aiming to end the war, allowing it to immediately take effect, BBC reported. 

The agreement includes reopening the Strait of Hormuz, a $300bn (£224bn) plan for Iran's "reconstruction", and the US terminating "all types of sanctions" on Iran.

But the issue of Iran's nuclear programme, the main reason stated by the US for the conflict, is still to be negotiated over an extendable 60-day period.