The United States and Iran have jointly announced a preliminary agreement aimed at ending their military conflict, lifting the American blockade on Iranian ports, and resuming operations in the Strait of Hormuz. This initial understanding prompted a decline in oil prices while leaving the issue of Iran’s nuclear activities for future discussions.
Both governments confirmed that a formal signing ceremony for the memorandum of understanding is planned for Friday in Switzerland. According to U.S. President Donald Trump, Iran is expected to reopen the strategic Strait of Hormuz—an essential passageway for the international oil and gas trade—that has remained closed for several months. In response, the U.S. will discontinue its blockade on Iranian ports starting Friday.
The document, as reported by Iran’s Mehr news agency, outlines that Washington will unfreeze $12 billion of Iranian assets ahead of subsequent talks concerning Iran’s nuclear program. The agreement, comprising fourteen key points, specifies the nature of the ceasefire and sets the stage for broader negotiations between the two countries.
In a social media statement, Pakistan’s Prime Minister Shehbaz Sharif described the agreement as ensuring the immediate and lasting suspension of military operations across all affected areas, including Lebanon.
