The guns should normally be silent in the Middle East. The United States and Iran have reached an agreement to immediately end the war on all fronts, including Lebanon, the Pakistani mediator announced on Monday, with the United States and Iran immediately confirming.
“The agreement with the Islamic Republic of Iran is now finalized,” Donald Trump wrote on his Truth Social network. “I fully authorize the reopening of the Strait of Hormuz without rights of passage and, at the same time, the immediate lifting of the American naval blockade. Ships around the world, start the engines. Let the oil flow freely!”, welcomed the American president, adding that this opening will take place “as soon as the agreement is signed on Friday to allow mine clearance”.
Fall in oil prices
The announcement triggered an immediate fall of just over 4% in oil prices, which had surged since the outbreak of war on February 28 and the blockage of the strategic Strait of Hormuz, through which a fifth of the world’s hydrocarbon trade normally passed.
The memorandum of understanding with the United States provides for “the immediate and definitive end of the war and military operations on the various fronts, including in Lebanon”, for his part declared on state television the Deputy Minister of Affairs Iranian foreigner, Kazem Gharibabadi. “Negotiations will begin within sixty days with a view to reaching a definitive agreement,” he said, listing four subjects for future discussions: the lifting of sanctions against Iran, the nuclear issue, the “reconstruction” and “economic development” of the country, as well as “the establishment of a monitoring mechanism” of the commitments made.
Trump could travel to Geneva for signing
The Iranian Mehr news agency also reported a text, which has not been officially confirmed, according to which the agreement provides for “the release of 24 billion dollars of frozen Iranian assets during the 60-day negotiation period”, including half before the start of talks.
Our file on the War in the Middle East
A signing ceremony for the agreement will take place on Friday June 19 in Geneva, said Pakistani Prime Minister Shehbaz Sharif, a key mediator in the Middle East war. US Vice President JD Vance said he planned to attend, and that Donald Trump’s participation was “possible”.
