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Donald Trump also denied (again) that the memorandum of understanding includes a $300bn fund for Iran, and denied that he had asked the Gulf states to commit funding.

“It’s false,” Trump told reporters as he sat alongside Egyptian president Abdel Fattah al-Sisi. “You can invest if you want. What am I going to do, say no one is ever allowed to invest? We’re not investing, we’re not putting up 10 cents and people can decide to do it. That’s up to them.”

In short, what it does is it opens the strait of Hormuz immediately … It also provides a framework whereby if the Iranians give us what we need – on stopping the funding of terrorism, on no longer pursuing a nuclear weapon – then they can get some benefits, be re-invited into the world economy.