The United States and Iran have reached a peace deal to end their war, with an official signing ceremony scheduled for Friday in Switzerland.
Pakistani Prime Minister Shehbaz Sharif announced the agreement on social media Sunday, saying both sides had declared “the immediate and permanent termination of military operations on all fronts, including in Lebanon.”
The full terms were not immediately made public, though multiple sources previously told Reuters that the draft agreement would reopen the Strait of Hormuz and lift the U.S. naval blockade of Iranian ports.
Trump confirmed the development on Truth Social, writing that he was authorizing “the toll free opening of the Strait of Hormuz” and the “immediate removal of the United States Naval blockade,” adding. “Ships of the World, start your engines. Let the oil flow!”
According to Reuters, a senior Iranian official said the draft terms would require the U.S. to release $25 billion in frozen Iranian assets. In return, Iran would commit to not producing or acquiring nuclear weapons and would hold its nuclear program at the status quo, including a halt to uranium enrichment and no expansion of nuclear facilities, until a final deal is concluded.
Dismantling Iran’s nuclear program and its support for armed proxies in the region were among the stated objectives when the U.S. and Israel launched the war in February, a conflict that began with strikes killing supreme leader Ayatollah Ali Khamenei.
The agreement almost fell apart before it was announced. An Israeli strike on the southern suburbs of Beirut on Sunday drew sharp rebukes from both Iran and Trump. Iran’s Foreign Affairs Ministry held the U.S. responsible for the attack and warned of a “strong response.”
Trump posted on Truth Social that the strike “should not have happened, particularly on a special day when we are so close to a Peace Deal.” Israel has maintained it is not party to the U.S.-Iran agreement, and Prime Minister Benjamin Netanyahu has publicly differed with Trump over American demands that Israel restrain its military operations in Lebanon.
Sharif said mediators would facilitate a series of pre-implementation meetings this week ahead of the signing ceremony in Switzerland. Iran had sought a ceasefire covering Lebanon as part of any deal, along with the release of frozen funds.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
