The United States and Iran have reached a preliminary peace agreement to end a conflict that began in February and has lasted over 100 days. Announced via mediator Pakistan, the memorandum of understanding calls for the immediate and permanent termination of military operations on all fronts, including in Lebanon. A formal signing ceremony is scheduled for Friday, June 19, in Switzerland.
Central to the deal is the reopening of the Strait of Hormuz, with President Donald Trump stating the waterway would be open and the U.S. naval blockade would end. Under the draft terms, the U.S. would begin releasing billions of dollars in frozen Iranian assets and waive sanctions on oil exports in exchange for the strait's reopening. This announcement has already led to a drop in oil prices.
Despite the breakthrough, significant hurdles remain. The agreement includes a 60-day ceasefire to facilitate negotiations toward a final peace treaty, but it does not resolve critical issues regarding Iran's nuclear program, which remains subject to further talks. Iranian officials have expressed deep mistrust of the United States, while some hardline protesters in Iran have voiced opposition to the deal.
Pakistani Prime Minister Shehbaz Sharif, crediting Army Chief Asim Munir for an extraordinary role, helped mediate the talks to prevent further global economic destabilization. While President Trump initially predicted a Sunday signing, Tehran disputed the timing, eventually agreeing to the Friday ceremony in Geneva. The deal was reached despite a recent Israeli strike on Lebanon that drew criticism from both Iran and the U.S. president.