US-Iran Finalises Deal To End Ongoing War, Reopen Strait of Hormuz

The United States and Iran said they reached a deal to end the Middle East war on all fronts, including Lebanon, and reopen the vital Strait of Hormuz but offered little indication on the thorny question of Tehran’s nuclear program.

Washington and Islamabad said the agreement was to be signed on Friday in Switzerland, signalling what would be a major breakthrough to ending months of war that have taken thousands of lives and roiled energy markets.

Few of the details were made public, but US President Donald Trump said the Strait of Hormuz — a key conduit for global oil supplies — would reopen after the planned signing of the deal on Friday.

“The Deal with the Islamic Republic of Iran is now complete,” US President Donald Trump posted Sunday on social media as he marked his 80th birthday.

“Ships of the World, start your engines. Let the oil flow!”

Soon after, Iran’s Deputy Foreign Minister Kazem Gharibabadi said in televised comments that the deal put an “immediate end” to the countries’ war and that they would hold talks within two months to seek a “final agreement.”

Just hours earlier, Tehran had vowed to retaliate against a strike by Israel against Iranian ally Hezbollah in the suburbs of Beirut which threatened to push back an agreement.

But later in the day, Pakistani Prime Minister Shehbaz Sharif made the announcement: “Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.”

He added thanks to leaders of Qatar, Saudi Arabia and Turkey for their support in the mediation effort.

The content of the agreement, which follows weeks of fraught negotiations and periodic threats from Trump of fresh hostilities unless Iran reached a deal, remained unclear.

Iran’s Mehr news agency reported that the US would release $12 billion in frozen assets to Iran before the start of negotiations.

It quoted a 14-point “memorandum of understanding” between the two nations, which it said stipulated “the release of 24 billion dollars in frozen Iranian assets during the 60‑day negotiation period” that begins after the MoU is signed.

The Trump administration didn’t immediately comment on the details of the agreement, which may prove contentious as the US presses its effort to end Tehran’s nuclear ambitions and deal with its stockpile of highly enriched uranium — believed to have been buried by US strikes last year.