A final text for a peace agreement between the United States and Iran has been reached, aiming to end a military conflict that began in late February. The impending deal includes the immediate reopening of the Strait of Hormuz and the lifting of a U.S. naval blockade on Iranian ports.
Pakistani Prime Minister Shehbaz Sharif confirmed the resolution of a final, agreed-upon text following mediation efforts in Islamabad. The resolution halts military actions that have severely disrupted global energy markets and international shipping routes over the past three months.
Iranian Foreign Minister Seyed Abbas Araghchi confirmed the maritime reopening terms on state television. While the immediate ceasefire and maritime access are prioritized in the finalized text, the agreement defers discussions regarding the dismantlement of Iran’s nuclear program and its enriched uranium stockpiles. Those topics will shift to a subsequent 60-day negotiation period.
U.S. officials maintain that the Memorandum of Understanding relies on strict verification metrics. The U.S. designated the agreement as performance-based, meaning economic benefits and sanctions relief for Iran will only be implemented once Tehran’s compliance is formally verified.
U.S. President Donald Trump indicated he recently canceled scheduled attacks on Iran due to the anticipated settlement. The formal signing is expected to occur within days, potentially aligning with the G7 summit in Evian, France, scheduled for June 15 to 17.
International oil benchmarks reacted immediately to the diplomatic de-escalation. Brent crude slipped below $90 per barrel on the expectation of restored commercial shipping in the Gulf.