Key facts
- The US military has confirmed that its blockade of Iranian ports remains in effect.
- The blockade will continue until a pending agreement between Iran and the US is signed.
- The agreement is scheduled for completion on June 19.
- Ships are instructed not to attempt passage through Iranian ports until explicit direction is received.
- Iranian President Masoud Pezeshkian described the US-Iran memorandum of understanding as a "document of honour" and a "victory".
- Asian stock markets experienced a surge following news of a potential resolution to the conflict.
The United States' blockade of Iranian ports remains in effect pending the finalization of an agreement with Iran, scheduled for June 19. A US military statement indicated that ships should not attempt to cross inbound or outbound from these ports until explicit direction is given. Iranian President Masoud Pezeshkian described the memorandum of understanding as a "document of honour" and a "victory," suggesting a positive reception in Tehran. The news spurred a rally in Asian stock markets, with Japan's Nikkei 225 and South Korea's Kospi indices seeing significant gains. Meanwhile, the UK Maritime Trade Operations agency reported an incident off Yemen, and the Trump administration emphasized that any release of Iranian assets is tied to the agreement. President Trump arrived in Geneva for G7 talks focused on the Iran deal, while German Chancellor Friedrich Merz stressed the agreement's importance for Lebanon and global stability. The conflict's impact is also reflected in casualty figures from Lebanon and demolitions by Israeli forces in the West Bank.