Details of the 14-point agreement revealed as senior US officials claim ‘major win’ despite significant concessions to Tehran

• Reaction: Donald Trump’s Iran deal met with anger, relief and incredulity

• Analysis: Trump’s Iran deal is result of unrealistic ambitions for an untenable war

Donald Trump has signed a 14-point agreement with Iran, claiming it delivered a “major win” for the United States – even as it made significant political and financial concessions to Iran to reopen the strait of Hormuz and prevent a “worldwide depression”.

In extraordinary remarks on Wednesday, Donald Trump went from threatening Iran with a new wave of attacks to suggesting the country had basic rights to enrich uranium for civilian use, that he would not pressure Tehran to abandon its ballistic missiles programme and the US was “going to have to give back” billions of dollars in frozen Iranian assets.

Prime minister faces prospect of going it alone against Iran as strategic interests of US and Israel are diverging

It took more than a day after news of Donald Trump’s deal with Iran went public for Benjamin Netanyahu to speak out.

When he finally appeared at a press conference on Monday evening, the Israeli prime minister skirted a cornerstone of his past public appearances: his excellent relationship with the US president.

US president says strait of Hormuz will be open from Friday but questions remain over waterway fees and Israeli breaches of ceasefire in Lebanon

• Tallying the global cost of the US-Israel war against Iran

Donald Trump has declared that the strait of Hormuz will be “completely open” from Friday, as western leaders gathering at the G7 summit in Évian-les-Bains battled to prevent the fragile US deal with Iran from almost immediately unravelling.

“The deal’s all signed. And the strait ⁠is already partially opened,” Trump said as he arrived at the summit in France, but Israeli breaches of the ceasefire in Lebanon and Iran’s claims about its right to charge fees in the crucial waterway revealed the agreement’s many loose ends.