Key facts
- A US-Iran ceasefire agreement has been reached, with a signing ceremony scheduled for June 19 in Switzerland.
- The deal includes a permanent cessation of hostilities, lifting of the naval blockade, US troop withdrawal from around Iran, and reopening of the Strait of Hormuz.
- Negotiations will address sanctions on Iranian oil sales and nuclear issues within 60 days of signing.
- Iran's frozen assets totaling $24bn are to be released during the 60-day negotiation period.
- Discussions on Iran's missile program and support for resistance groups have been removed from the agenda.
- Oil prices have fallen, and stock markets have rallied following the confirmation of the deal.
The United States and Iran have finalized a ceasefire agreement, with a signing ceremony scheduled for June 19 in Switzerland, following intensive mediation. President Trump confirmed the completion of the deal and announced the end of Washington's naval blockade in the Strait of Hormuz. The agreement aims to establish a permanent cessation of hostilities on all fronts, including Lebanon, and includes a US commitment to withdraw forces from around Iran.
The draft agreement, as reported by Iran's Mehr news agency, also stipulates the complete lifting of the naval blockade within 30 days and the reopening of the Strait of Hormuz. Discussions concerning Iran's missile program and its support for resistance groups have been removed from the negotiating agenda. Furthermore, the deal includes the suspension of sanctions on Iranian oil sales and reaching a final agreement on nuclear issues within 60 days of signing. During this 60-day period, half of Iran's frozen assets, totaling $24bn, are to be released.
International reactions have been largely positive, with Qatar welcoming the memorandum of understanding and calling for constructive negotiations. UK Prime Minister Keir Starmer stated the UK will support the talks and called for toll-free navigation in the Strait of Hormuz. French President Macron welcomed the agreement and urged the unconditional reopening of the Strait. UN Secretary-General Antonio Guterres described the deal as a 'critical step' towards conflict resolution. Japan, New Zealand, and Germany also welcomed the ceasefire, viewing it as a major step towards peace and global economic recovery. Turkish President Erdogan supports the deal and urges vigilance against sabotage.
However, some skepticism remains. US Vice President JD Vance hailed the deal, while former Vice President Mike Pence expressed doubts, emphasizing that Iran must dismantle its nuclear and missile programs and cease support for terrorist groups. Republican Senators Lindsey Graham, Moreno, Scott, and Marshall, along with Congresswoman Miller-Meeks, have welcomed the deal but Graham expressed concern over differing interpretations. Top Democrat Hakeem Jeffries criticized President Trump's deal, stating America is less safe. Iran views the deal as a success of its diplomacy and war deterrence, not a forced agreement.
Market reactions have been swift, with oil prices falling and stock markets surging. Brent crude dropped to $83.82 following the confirmation. Analysts suggest that the fall in oil prices will provide relief for central banks concerned about inflation. Preparatory meetings for the deal signing are scheduled to be held in Doha, following 17 hours of negotiations by a Qatari delegation in Tehran. Despite the agreement, traffic in the Strait of Hormuz may take months to return to pre-war levels, even after de-mining operations.