The United States reached an agreement with Iran

“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorise the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorise the immediate removal of the United States naval blockade. Ships of the World, start your engines. Let the oil flow!” reads a post by Donald Trump on the Truth Social platform.

According to the President, the agreement will bring long-lasting peace and security to the region. Shortly before him, the Pakistani Prime Minister Shehbaz Sharif, who mediated the negotiations, announced the deal. In a post on the X platform, he noted that “both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.”

The Iranian side also confirmed information regarding the planned agreement. Iranian Deputy Foreign Minister Kazem Gharibabadi presented the deal as a result of Iran’s military pressure and noted that the text of the agreement would be published after the signing ceremony on Thursday, with its obligations coming into force the following day. However, he added that Iran would not sign the agreement if Tehran’s “final” demands were not included in the text. Furthermore, he stated that in the coming weeks of talks, Iran would focus on ending sanctions.

The agreement is set to be signed this week in Switzerland. U.S. Vice President J.D. Vance is expected to attend the ceremony; it is uncertain whether President Trump will be present. The memorandum of understanding is intended to last 60 days. During this time, the parties to the conflict will engage in talks regarding the details of a long-term peace, including, among other things, the Iranian nuclear program.

According to a high-ranking White House official, the agreement is based on four pillars: the opening of the Strait of Hormuz and the end of the blockade, the dismantling of the Iranian nuclear program along with the handover of enriched uranium to the American side (which will be “destroyed on-site and then removed from the country”), long-term regional peace, and an inspection regime to ensure the verification of commitments. If the parties cooperate, sanctions against Tehran are to be gradually eased, and Iran will be reintegrated into the global economy.

The war of the U.S. and Israel against Iran began on February 28. Lebanese Hezbollah is also participating in the conflict, attacking targets in Israel. A ceasefire has been in place since April, though it has been violated by virtually all sides. As a result of the war, the Strait of Hormuz was closed, paralyzing global oil transport from the Persian Gulf region. This led to an increase in crude oil and gasoline prices worldwide.