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U.S. and Iran reach deal to end the Mideast war, with agreement set to be signed Friday

6 h ago

The U.S. and Iran have reached a peace deal to end their nearly four-month war, with both sides declaring an immediate and permanent cessation of military operations on all fronts, including Lebanon. Pakistan Prime Minister Shehbaz Sharif announced the agreement on Sunday, having served as mediator. U.S. President Donald Trump confirmed the deal on Truth Social, authorizing the opening of the Strait of Hormuz and the removal of the U.S. naval blockade. The official signing ceremony is set for Friday, June 19, in Switzerland. Iran's Supreme National Security Council confirmed a finalized memorandum of understanding, stating all military operations would cease "immediately and permanently" and the naval blockade would be lifted. However, negotiations toward a final agreement will be deferred until Washington fulfills its commitments. Iranian state media reported that the U.S. was "forced to sign an agreement to end the war." Qatar welcomed the agreement, highlighting measures to ensure freedom of navigation in the Strait of Hormuz. European nations, including the UK, Germany, France, and Italy, expressed willingness to lift sanctions on Iran in exchange for steps on its nuclear program, stressing that Iran must never acquire a nuclear weapon. The deal follows weeks of mixed messaging and a fragile ceasefire. Earlier Sunday, the deal was put at risk when Iran-backed Hezbollah launched projectiles into Israel, prompting Israeli strikes and Trump warning both sides not to "blow it." The Strait of Hormuz, closed since late February, had caused severe supply constraints, rising prices, and inflation—US inflation hit 4.2% in May. Vice President JD Vance called the deal "a great thing" for lowering energy costs. The war had also driven the ECB to raise interest rates for the first time since 2023, and the Fed is now expected to raise rates later this year.