We can bring you more now from Keir Starmer, who says reopening the strait is "very, very important" for the UK because its impact on energy prices have affected "every house across the country".

Energy costs have rocketed since Iran responded to US and Israeli attacks by effectively blocking the crucial Strait of Hormuz shipping route.

Starmer also says he welcomes the deal between the US and Iran and congratulates Trump and the mediators.

Speaking to Times Radio about G7 countries, he adds: "It's going to make a material difference to our economies, to stability in the world and of course we're all united in saying that Iran must not get... a nuclear weapon."

UK Prime Minister Keir Starmer has also just spoken at the G7 Summit in France.

Starmer says the UK will play its "full part" in getting the Strait of Hormuz open "as quickly as possible".

Image source, Getty Images

The G7 (Group of Seven) is an organisation of the world's seven largest so-called "advanced" economies, which dominate global trade and the international financial system.

They are: Canada, France, Germany, Italy, Japan, the UK and the United States.

This year's summit is being held in the French town of Évian-les-Bains this week.

Other leaders have also attended, with Ukrainian President Zelensky joining Tuesday's session.

And there's also a strong presence from the Middle East - leaders from the UAE, Qatar and Egypt are also attending talks.

Ghoncheh Habibiazad
Senior reporter, BBC Persian

Iran's nuclear programme has been the focus of diplomatic talks, sanctions on Iran, and inspections for decades.

It was often referred to by Donald Trump as the reason the US joined with Israel in launching strikes on the country in late February this year.

Iran maintains its programme is peaceful.

The US and Israel have consistently rejected this and say there have been efforts to develop nuclear weapons.

Under a nuclear deal agreed in 2015, Iran had limited its enrichment to 3.67%, which can be used to produce fuel for commercial nuclear power plants. Weapons-grade uranium is 90% enriched or more.

Iran began openly escalating its enrichment levels after Donald Trump abandoned the previous agreement in 2018.

By June last year, Iran was enriching at 60% and had amassed a stockpile of 400kg, according to the International Atomic Energy Organization (IAEA).

The IAEA said last week it had been able to conduct a "routine inspection" at the Bushehr Nuclear Power Plant recently, but it had been almost a year since inspectors had been able to access other nuclear facilities.

Image source, Getty Images

On Lebanon, Donald Trump says Israel has been fighting Hezbollah for "too long and too many people are being killed".

Asked whether he is frustrated with Israeli PM Benjamin Netanyahu, Trump says they have a "great relationship" but adds that he "has to be more responsible with respect to Lebanon".

"I didn't like that he did an attack... that was too much," Trump says.

• For context: An Israeli air strike on Beirut put pressure on attempts to reach a deal to end the war over the weekend, with Trump saying at the time: "Let's not blow it"

"Without the US, there would be no Israel... because no other president was willing to do what I did," he adds.

More now from Trump, who goes on to say the US is "not investing any money in Iran".

It comes after reports that the US was prepared to allow an investment fund for Iran in exchange for Tehran’s agreement to a final settlement.

He describes the "rumour that got out there yesterday" as "ridiculous", adding: "We have no obligation to invest any money in Iran."

Image source, Getty Images

US President Donald Trump says "Iran will never have a nuclear weapon" under a new deal.

Speaking at the G7 summit in France, Trump says the Iran deal is going to a "second stage" but does not provide any more detail.

"We have a deal that’s a fair deal, it’s a good deal," he adds.

On Monday, the US president said a deal to bring about an end to the war was "all signed". Iran's foreign minister said negotiations on reaching a final peace deal with the US would begin in Switzerland on Friday.

US Vice-President JD Vance described the memorandum of understanding (MOU) between the US and Iran as "about a page and a half" and a "very general" document.

Technical talks on Iran's nuclear programme are expected to begin this week, US officials said, while any sanctions relief or release of assets will depend on Iran meeting commitments under the deal.

A key sticking point in negotiations between Iran and the US has been Iran's nuclear enrichment and Western insistence that the country not possess a nuclear weapon.