Key facts
- Iran and the US have finalized a peace deal to end military operations on all fronts, including Lebanon.
- The Strait of Hormuz will be reopened, and the US naval blockade on Iranian ports will be lifted.
- The agreement is scheduled to be formally signed in Switzerland on June 19.
- Iran's military declared the deal a victory, asserting that its will was imposed on adversaries.
- Israeli officials stated that Israel is not bound by the agreement.
The United States and Iran have finalized a peace deal aimed at ending hostilities across multiple fronts, including the conflict in Lebanon, and reopening the vital Strait of Hormuz. The agreement, announced by Iranian officials and confirmed by US President Donald Trump, is set to be formally signed in Switzerland on June 19.
Iran's Deputy Foreign Minister Kazem Gharibabadi stated that military operations would cease immediately and permanently, with negotiations for a final agreement to occur over a 60-day period. President Trump announced the lifting of the US naval blockade on Iranian ports and the subsequent reopening of the Strait of Hormuz upon the agreement's signing. Pakistani Prime Minister Shehbaz Sharif also confirmed the deal, highlighting its comprehensive nature.
The Iranian military, through its Khatam al-Anbiya Central Headquarters, declared the outcome a victory, asserting that adversaries were left with no choice but to surrender. This declaration followed over 100 days of conflict. UN Secretary-General Antonio Guterres welcomed the development as a critical step towards diplomacy, and Austrian Chancellor Christian Stocker urged full implementation, emphasizing freedom of navigation.
However, the agreement faces dissent from Israeli officials. Defense Minister Israel Katz vowed not to withdraw from territory seized in Lebanon and threatened retaliation against Iran if attacked. National Security Minister Itamar Ben-Gvir explicitly stated that Israel is not bound by the US-Iran agreement, asserting the nation's sovereignty and security interests.
Following the announcement, oil prices saw a dip, with Brent crude falling 3.4% to $87.33 per barrel and WTI crude dropping 3.2% to $84.88 per barrel, while stock markets reportedly rallied.