Key facts
- President Donald Trump announced a framework for a peace deal with Iran.
- The agreement includes Iran's commitment to reopen the Strait of Hormuz and lift U.S. naval blockades.
- Discussions over ending Iran's nuclear program are deferred.
- The deal aims to extend the current ceasefire for 60 days.
- The U.S. military's cost for the conflict has been tens of billions of dollars.
President Donald Trump announced a framework for a peace deal with Iran, aiming to extricate the U.S. from an unpopular war and potentially lower global energy prices. The agreement, approved by Trump on Sunday, includes Iran's commitment to reopen the Strait of Hormuz and lift U.S. naval blockades. This breakthrough comes after more than three months of conflict that has killed thousands and impacted U.S. approval ratings ahead of midterm elections.