What does the agreement between the United States and Iran contain?

A US-Iranian agreement to extend the ceasefire between the two countries has been signed and is now in effect, a White House official confirmed to the BBC.

President Donald Trump officially signed the agreement, which is expected to reopen the Strait of Hormuz, while attending the G7 summit in Évian-les-Bains, France.

The 14-point agreement, known as the memorandum of understanding, stipulates that Iran will never possess nuclear weapons and also commits a $300 billion fund for the country's "reconstruction and economic development," although the United States is not obligated to contribute. This comes four months after the start of the conflict between the two countries—and Israel.

The Trump administration described the agreement as "performance-based," with Iran only benefiting if it meets its commitments.

Although the text of the agreement leaves many questions unanswered, and many key issues unresolved, here is what we know about some of the key points.