Pres­i­dent Don­ald Trump signed an agree­ment with Iran on Wednes­day that calls for Tehran to di­lute its stock­pile of high­ly en­riched ura­ni­um and waives U.S.-backed sanc­tions on the coun­try, im­me­di­ate­ly al­low­ing Iran to sell its oil freely in a ma­jor con­ces­sion from Wash­ing­ton, ac­cord­ing to de­tails re­leased by both coun­tries.

U.S. Pres­i­dent Don­ald Trump told re­porters that he signed an agree­ment with Iran on Wednes­day, while leav­ing a din­ner in Ver­sailles, France with French Pres­i­dent Em­manuel Macron. “It’s signed, yeah. We signed it in Ver­sailles. We signed it,” Trump com­ment­ed.

The ini­tial deal to end the war takes “im­me­di­ate ef­fect” af­ter lead­ers from both coun­tries signed it, Pak­istani Prime Min­is­ter She­hbaz Sharif, who helped me­di­ate the agree­ment, said on­line.