US and Iran Reach Preliminary Peace Agreement to Reopen Strait of Hormuz
The United States and Iran have reached a preliminary peace agreement to end their months-long conflict and reopen the strategically vital Strait of Hormuz. Pakistan Prime Minister Shehbaz Sharif, who mediated the talks, announced that the agreement is scheduled to be signed on June 19 in Switzerland. US President Donald Trump confirmed the development on Truth Social, declaring that the agreement with the Islamic Republic of Iran is complete and ordering the immediate lifting of the US Navy’s blockade on Iranian ports.
The conflict, which erupted following joint US-Israeli military actions against Iran on February 28, had resulted in thousands of casualties across Iran and Lebanon, retaliatory strikes on US bases, and the closure of the Strait of Hormuz. Following the announcement of the peace deal, global crude oil prices reacted immediately, with Brent crude dropping by over four percent to $83.82 per barrel. The initial two-page memorandum is expected to be followed by 60 days of detailed negotiations, aiming for the complete removal of Iran’s enriched uranium stockpile and the termination of its nuclear program.
Despite the breakthrough, last-minute diplomatic hurdles remain as Iran warned it might withdraw from the agreement following recent Israeli airstrikes in Lebanon. Iranian Parliament Speaker Mohammad Bagher Ghalibaf criticized the US for failing to maintain peace efforts, raising concerns about the final signing. Meanwhile, regional bodies like the Arab Parliament have condemned false media reports attempting to misrepresent the involvement of neighboring Gulf nations like the UAE and Qatar in the negotiations.
