U.S. President Donald Trump announced that the United States and Iran have agreed on a basic ceasefire deal to end the war that has lasted more than three months between the two countries. The agreement will also reopen the Strait of Hormuz, leading to a 4% drop in global oil prices.
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Impact on Oil Prices and Nuclear Issue
This preliminary agreement caused oil prices to decrease by 4%, though the issue of Iran’s nuclear weapons program remains unresolved and will continue to be discussed.
Trump’s Statement
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Trump wrote on Truth Social: “The agreement with the Islamic Government of Iran is now complete.”
Pakistan’s Mediation
His message followed that of Pakistan’s Prime Minister Shehbaz Sharif, the mediator in these talks, who said the agreement had been reached on Monday morning Middle East time.
Signing Ceremony
The cooperation agreement is expected to be formally signed on Friday in Switzerland.
Details of the Agreement
Detailed information about the agreement was not immediately available. Sharif stated that the deal requires “an immediate and permanent halt to military operations on all sides, including in Lebanon.”
Lebanon as a Key Issue
Lebanon was a major sticking point in the negotiations, as Israel and Hezbollah had ignored calls from Trump and others to stop attacks in recent weeks.
Iran’s Position
Iran’s Deputy Foreign Minister, Kazem Gharibabadi, said further talks would follow during a 60-day truce, including discussions on easing sanctions imposed on Iran.
Reopening the Strait of Hormuz
Trump announced that the Strait of Hormuz, a critical global route for transporting oil and gas that Iran had closed in recent months, will reopen on Friday. He also ordered U.S. military operations blocking Hormuz to cease. He declared, “Ships of the world, start your engines, let oil flow.”
