US Donald Trump announced the conclusion of the agreement with the Islamic Republic of Iran on Sunday evening on his platform Truth Social. Iran’s Deputy Foreign Minister Kazem Gharibabadi confirmed an immediate and permanent end to the war on state television early Monday. Iran’s Supreme National Security Council also announced the deal.
The framework agreement provides for the immediate and final cessation of military operations on all fronts, including in Lebanon. According to the Wall Street Journal, citing Trump, Iran commits to not pursuing nuclear weapons and to immediately open the Strait of Hormuz. In return, Trump ordered an end to the US naval blockade of Iranian ports and signaled a lifting of sanctions. No cash payments are planned, Trump told the newspaper.
The official signing ceremony is to take place on Friday in Switzerland, according to mediator Pakistan. Iranian sources say 60-day negotiations on a long-term peace will follow. The US and its allies would then have to present reconstruction plans for Iran worth at least $300 billion. A final agreement should be approved by a UN Security Council resolution, reports the Mehr news agency.
The deal sent oil prices lower and drove Asian stock markets to record highs. Trump announced that the Strait of Hormuz would be opened on Friday after the signing, allowing oil to flow freely again. Iran’s Tasnim news agency also reported, citing sources, that the strait would open on Friday.
Source: www.handelsblatt.com
