Key facts
- The US and Iran have signed a preliminary ceasefire agreement.
- Final negotiations are scheduled for Friday in Switzerland.
- The deal aims to end a conflict that has killed at least 7,000 people.
- The agreement includes a 60-day ceasefire extension and the reopening of the Strait of Hormuz.
- Iran's Foreign Minister stated that any Israeli attack on Lebanon would violate the agreement.
The United States and Iran have signed a preliminary agreement to end a conflict that has claimed at least 7,000 lives and significantly disrupted global energy markets. Iran's Foreign Minister Abbas Araghchi announced that a new round of negotiations with the US would commence on Friday in Switzerland to finalize the agreement, following the official start of an interim accord.
US President Donald Trump confirmed the signing of a preliminary deal, stating that details would be made public soon. The agreement reportedly extends a previous 60-day ceasefire and includes the reopening of the Strait of Hormuz, a critical global oil shipping route that Iran had effectively blocked. Future negotiations are expected to address complex issues such as Iran's nuclear program.
Following the announcement, oil prices dropped to their lowest point since March 10. The conflict, which began in February with US and Israeli attacks on Iran, has had a profound impact on global energy markets. Iranian President Masoud Pezeshkian described the memorandum of understanding as a significant step towards halting the fighting, though he noted that a final agreement for a lasting truce is yet to be established.
US Vice President JD Vance characterized the signed memorandum as a brief, general document of about 1-1/2 pages, and stated that no US taxpayer money would go to Iran. He also confirmed that US and UN nuclear inspectors would be allowed into Iran to help destroy highly enriched uranium stockpiles. Trump added that the main focus of the deal was that Iran would not acquire a nuclear weapon. The conflict in Lebanon between Israel and Iran-backed Hezbollah presents a significant threat to the diplomatic thaw, with Iran emphasizing that ending the war on all fronts, including Lebanon, is an inseparable part of the peace deal.