U.S. and Iranian officials confirmed they have reached an agreement to end their war and reopen the Strait of Hormuz, a preliminary deal that sent oil prices tumbling but leaves the future of Tehran's nuclear program to be determined in further talks.
While still a framework, the deal marked the biggest breakthrough towards resolving the conflict that has killed thousands and upended energy markets since it began with joint U.S.-Israeli strikes on Iran in February.
"The Deal with the Islamic Republic of Iran is now complete," U.S. President Donald Trump wrote on his Truth Social platform at around 5:30 p.m. in Washington (9:30 p.m. GMT) Sunday. His post came shortly after Pakistani Prime Minister Shehbaz Sharif, whose country has served as a mediator, announced a deal had been struck early Monday local time.
The memorandum of understanding is scheduled to be officially signed Friday in Switzerland.
The precise terms were not immediately known. Sharif said in a post on X that the pact called for "the immediate and permanent termination of military operations on all fronts, including in Lebanon."
