Nosheen Iqbal

Check in with our sister podcast, Politics Weekly, with Pippa Crera and Kira Stacey, and find out more about this story all at theguardian.com.

This episode was presented by me, Nosheen Iqbal.

It was produced by Ivor Manley, Guy Safman, and Aisha Riaz.

Sound design is by Rudy Zagadlo, and the executive producer is Huma Khalili.

We'll be back this afternoon with the latest.

This is The Guardian.

From The Guardian's Today in Focus, this is The Latest with me, Noshin Iqbal.

Patrick Winter, welcome back to The Latest.

Thank you.

You're The Guardian's diplomatic editor and you're here to talk us through the deal that US has struck with Iran, signed in very sort of glitzy fashion by Trump at the Palace of Versailles off the back of the G7 summit, which is an interesting choice.

Well, let's talk about the detail, because in the agreements there was discussion of, well, there's a movement on Iran's nuclear program, there was discussion of sanctions relief, to what happens on the Strait of Hormuz once the talks are over.

But Patrick, from everything I'm reading, tell me I'm wrong, but from everything I'm reading, this looks like a terrible deal for Trump.

You know, the US appears to have no real wins, and it has made many more concessions than were even in play before the war began.

Funded by?

So like a toll to traverse the Strait?

So from what you're saying, and again, from what I've read, it does feel like Iran's come out on top here.

I mean, experts say that Iran's about to make a lot of money, given that the US is going to give back billions in frozen Iranian assets.

And, you know, as you've said, waiving sanctions on oil, clearly making them better off before the war began.

Well, quite.

I was going to come to this.