US Donald Trump and the Iranian leadership announced the agreement on Trump’s 80th birthday. Mediator Pakistan confirmed the news. The deal is meant to lay the groundwork for further negotiations, including on Iran’s nuclear program. The exact wording was not initially released.
Ceasefire on All Fronts
Pakistan’s Prime Minister Shehbaz Sharif said on platform X that both sides had agreed to an immediate and final halt to all military operations. This also applies to the conflict between Israel and the pro-Iranian Hezbollah militia in Lebanon. The Strait of Hormuz, one of the most important trade routes for oil and gas, is to be reopened for shipping after Friday’s signing. Trump said minesweeping operations would be needed first.
Oil Prices Fall, Markets React Positively
Oil prices dropped sharply after the deal was announced. Stock markets in Japan, China, and South Korea also posted gains. In return for Iran’s pledge to open the strait, Trump ordered the lifting of the US naval blockade of Iranian ports. The blockade was meant to cut Tehran off from oil export revenues, the regime’s main economic lifeline.
Signing in Geneva at the Highest Level
The US administration plans to be represented at a high level at the signing in Switzerland. Vice President JD Vance told Fox News he plans to attend, possibly along with Trump himself. However, a simultaneous foreign trip by both is considered unlikely, as Trump is already traveling to the G7 summit in Évian, France. Experts warn against excessive optimism: the agreement is only an interim step, with the biggest hurdles still ahead.
Source: www.zeit.de
