Iran has confirmed a peace deal with the United States, marking the end of months of conflict in West Asia.

The agreement includes lifting the US naval blockade on the Strait of Hormuz, releasing billions in frozen Iranian assets, and a 60‑day negotiation period to finalise a comprehensive settlement. The official signing ceremony is scheduled for 19 June 2026 in Switzerland.

Iran’s Deputy Foreign Minister for Legal and International Affairs, Kazem Gharibabadi, stated that Tehran will only enter the proposed 60‑day negotiation phase after verifying Washington’s commitments.

These commitments include ending hostilities, lifting the blockade, and releasing Iranian assets. He emphasised that the memorandum of understanding should not be seen as a sign of trust in the United States, but rather as a product of Iran’s military achievements and sacrifices.

US President Donald Trump announced the completion of the peace deal on Truth Social, coinciding with his 80th birthday. He declared the reopening of the Strait of Hormuz and the removal of the US naval blockade, encouraging global shipping to resume.

Trump later clarified that the strait would officially reopen after the signing ceremony on 19 June, allowing mine‑clearing operations to ensure safe passage for oil and gas shipments.

Pakistan’s Prime Minister Shehbaz Sharif played a central role in mediating the agreement. He confirmed that both sides had agreed to the immediate and permanent termination of military operations on all fronts, including Lebanon.

Sharif expressed gratitude to Qatar, Saudi Arabia, and Turkey for their contributions to the mediation process. He also announced that a series of pre‑implementation meetings would be held this week to prepare for technical discussions and the implementation of the agreement.

Reports from Iran’s Mehr news agency revealed that the United States will release $12 billion in frozen Iranian assets before negotiations begin, with a total of $24 billion potentially released during the 60‑day negotiation period. This financial concession is seen as a critical step in building confidence for further talks. Meanwhile, Iranian state media framed the deal as a victory, claiming the US had been “forced” to sign the agreement.

The deal comes after nearly four months of war, which began in late February 2026 and escalated with clashes involving Israel and Hezbollah in Lebanon. Just hours before the announcement, tensions spiked when Israel struck Hezbollah positions in Beirut, threatening to derail the agreement. However, the mediation effort succeeded in bringing both sides back to the table.

The peace deal has already had significant global economic impacts. Oil prices dropped more than 4% following the announcement, while Asian stock markets surged, reflecting optimism about stability in energy supplies. Gold prices also rose by 2%, as investors sought safe havens amid uncertainty about the long‑term durability of the agreement.

Although the memorandum of understanding marks a breakthrough, it is not yet a final peace treaty. Key issues remain unresolved, particularly concerning Iran’s nuclear program. US officials have suggested that highly enriched uranium will be destroyed on‑site under American supervision, while Iranian officials insist it will be diluted domestically. These differences highlight the challenges that lie ahead during the 60‑day negotiation period.

The United Nations Secretary‑General António Guterres welcomed the agreement, praising it as a step towards peace and stability in the region. However, scepticism remains among some US lawmakers, with Senator Lindsey Graham expressing concern that Iran’s interpretation of the deal may differ from Washington’s.

The peace deal between Iran and the United States represents a major diplomatic milestone, ending active hostilities and opening the Strait of Hormuz. Yet, the path to a final settlement will depend on whether both sides honour their commitments during the upcoming negotiation period.

ANI