Key facts
- President Donald Trump announced a completed peace deal with Iran, ending the US naval blockade in the Strait of Hormuz.
- The official signing ceremony for the US-Iran deal is scheduled for June 19 in Switzerland, according to Pakistan's Prime Minister Shehbaz Sharif.
- UN Secretary-General Antonio Guterres and French President Emmanuel Macron welcomed the agreement as a critical step towards peace.
- Concerns exist about potential spoilers, including Israel, Hezbollah, and Iran, that could undermine the fragile accord.
- Oil prices dropped significantly following the announcement due to eased geopolitical tensions in the Strait of Hormuz.
President Donald Trump announced that a peace deal between the United States and Iran has been reached, which includes an end to the naval blockade in the Strait of Hormuz. The agreement is set to be formally signed on June 19 in Switzerland, according to Pakistan’s Prime Minister Shehbaz Sharif.
UN Secretary-General Antonio Guterres and French President Emmanuel Macron have both welcomed the announcement, calling it a critical step towards peace and emphasizing the need for the unconditional reopening of the Strait of Hormuz. Macron also stated France's readiness to support an international mission to ensure maritime traffic.
However, concerns linger about the fragility of the deal. Retired US General Mark Kimmitt warned that Israel, Hezbollah, Iran, and potentially the US itself could act as spoilers. He noted that Israel has overlapping but not identical concerns with the US, and that Israel might take its own course. Kimmitt also pointed out Iran's unwillingness to discuss its long-range missiles and support for regional allies, and Hezbollah's yet-to-be-accepted ceasefire.
Israeli right-wing media have reacted negatively to the deal, viewing it as a strategic defeat for Israel. This sentiment stems from the fact that Israeli Prime Minister Benjamin Netanyahu's stated war goals in Lebanon and Iran, including the collapse of the Iranian government and the defeat of Hezbollah, remain unachieved. The announcement has led to a significant drop in oil prices, with Brent crude falling about 4 percent and US crude down 4.6 percent, as geopolitical risk premiums ease.