Main PointsUS and Iranian officials say they have reached a permanent agreement to end their war The plan includes the immediate reopening of the Strait of HormuzOil prices, which have risen more than 50 per cent since the US and Israel attacked Iran, fell sharply on the news Donald Trump also said in a social media post that he had ordered the end of the US blockade of Iranian portsIn a statement, the secretariat of Iran’s Supreme National Security Council said ​military operations on all fronts, including Lebanon, would end permanently from Monday nightHowever, Israel said on Monday it intends to maintain its presence in LebanonKey ReadsQ&A: What is in the US-Iran deal and when will the Strait of Hormuz open?Iran peace deal will not restore pre-war status quo in Strait of HormuzRonan McGreevy - 19 minutes agoRonan McGreevy - 21 minutes agoUAE calls for swift implementation of US-Iran dealThe United Arab Emirates ‌called for full implementation of the ​US-Iran preliminary deal to end their war, including ​an immediate halt to ⁠hostilities and ensuring freedom of ‌navigation ‌through ​the Strait of Hormuz, ⁠the foreign ​ministry said on ​Monday.The ministry statement ‌stressed the importance ​of dialogue, diplomacy and ⁠adherence to ⁠international ​law following the US-Iran memorandum of understanding.The UAE was affected by the conflict, ‌with Iranian ⁠strikes hitting shipping and energy infrastructure linked ‌to the country during the ​war.Ronan McGreevy - 28 minutes agoThis photograph shows a view of the Hotel Royal ahead of the start of the G7 summit, in Evian, eastern France. Photograph: Ludovic Marin/Getty Images Ronan McGreevy - 31 minutes agoPeace deal to be signed on Friday in GenevaPakistan will host an event in Geneva to mark the US-Iran peace deal, prime Minister Shehbaz Sharif told parliament, crediting army chief Asim Munir with playing an “extraordinary role” in efforts to end a conflict that threatened to destabilise the global economy.“The world has reached an historic milestone as US and Iran agreed to end the war permanently, including in Lebanon,” Sharif said. The ceremony will be held on Friday, he said.Sharif said he had personally witnessed Munir’s “extraordinary efforts” to secure peace, describing how the military chief worked around the clock and “never lost hope” during talks. He also praised foreign minister Ishaq Dar and interior minister Mohsin Naqvi for their engagement with Iranian leaders. Sharif asked lawmakers to welcome Iran’s ambassador, who was present in parliament during the speech.Ronan McGreevy - 52 minutes agoHarris refuses to rule out scraping temporary excise reduction on fuelThe Government will look again in about a fortnight at the temporary excise reduction on fuel in light of the deal aimed at bringing to an end the conflict in the Middle East, Tanaiste Simon Harris has said. However speaking at the National Economic Dialogue in Dublin, he says things remained “very fluid” though the developments overnight were very positive. “But we also have to be honest, has it been a significant amount of damage done to energy infrastructure that will take time to repair”, he said. The temporary reduction in excise on petrol and diesel introduced by the Government to try and tackle rising prices is due to expire at the end of July. Asked whether the Government would allow this temporary reduction in excise to expire if oil prices continued to fall, Harris said: “We’ve seen, time and time again, how volatile the oil markets can be. An announcement is made, it comes to pass, prices go down, and maybe it doesn’t come to pass, things go back up. So Government is keeping a very close eye on all of this.”“There is still ample time to consider what the most appropriate thing to do is. So, from my perspective, I think we should be considering the next steps on this and around the next two weeks or two.”Ronan McGreevy - 58 minutes agoIsrael will not leave Lebanon yet The Israel Defence Forces intends to maintain its presence in Lebanon, says the country’s defence minister Israel Katz.It follows the announcement of a framework deal between the US and Israel, brokered by Pakistani mediators who say the agreement stipulates that “military operations on all fronts, including in Lebanon” will end.In a statement written originally in Hebrew, Katz says Israel opposes IDF withdrawal from Lebanon despite “existing and expected pressures”.The defence minister says that, in agreement with Israeli prime minister Binyamin Netanyahu, the IDF will remain in “security zones” in Lebanon - as well as Syria and Gaza - “without time limit”.He says that “all terrorist infrastructures” will be destroyed in order to “protect Israel’s borders”, and that Israel has briefed its US counterparts on its position.“If Iran attacks Israel due to the events in Lebanon — we will strike it with full force and clearly demonstrate the gap in power." Ronan McGreevy - 1 hour agoIran deal happens against G7 backdropDonald Trump has left his 80th birthday party celebrations to travel to the G7 summit in France.The talks between the leaders of the world’s most powerful democracies will address issues including Iran, Ukraine, global trade and many more that have caused friction between allies.Hours before leaving Washington, Trump announced an agreement to end the Iran war – a development that could change the dynamic during the talks taking place from Monday to Wednesday in Evian-les-Bains.Just days ago, when the Iran-US ceasefire was hanging by a thread amid resumed strikes, the gathering on the shores of Lake Geneva, Europe’s largest Alpine lake, appeared to be heading for stormy waters.Analysts speculated that tempers could flare and that Trump might not hang around for long in an Alpine spa town that has been enveloped in a security bubble for the G7 leaders and other guests invited by the event’s host, French president Emmanuel Macron.Aside from France and the US, the other G7 nations are the UK, Canada, Germany, Italy and Japan.Allies Trump berated for refusing to join the war are likely to greet any Iran deal with relief if it reopens the Strait of Hormuz and enables Persian Gulf energy exports to flow freely again.As host, Macron has packed the meatiest and potentially most contentious topics into the summit’s first 24 hours, including the Iran war and its impact on energy supplies and the Ukraine war that has largely slipped down the White House’s list of top priorities.Tuesday’s morning session on Ukraine will afford invited guest president Volodymyr Zelenskiy, an opportunity to showcase progress that Ukrainian forces are making against the Russian invasion.The US-Iran deal is expected to be signed on Friday, followed by technical talks on details over the next 60 days. If it reopens the Strait of Hormuz, France and the UK are expected to make the case that they could help rid the narrow waterway of any mines and escort tankers through it.Ronan McGreevy - 1 hour agoMarkets react positively to Iran deal newsShare markets and bonds rallied hard on Monday and oil prices tumbled 5 per cent as a framework peace deal between the ‌United States and Iran promised to ease inflationary pressures globally and lessen the need for higher interest rates.Europe’s early optimism drove both the STOXX 600 and FTSE Eurofirst to records. Asia’s biggest markets had all leapt overnight, while futures markets pointed to gains of ​1.3 per cent to 2 per cent for Wall Street later.Early on Monday, Pakistani prime minister Shehbaz Sharif said on social media an Iranian peace deal had been struck, while US president Donald Trump said the pact included opening the vital Strait of Hormuz, though without giving details.Trump will meet Middle Eastern leaders and attend a working session with Ukrainian president Volodymyr Zelenskiy during a G7 summit in France this week.Iran said traffic through the strait would be regulated by it and Oman, a potential blow to the rules of ​free trade that suggests there might be a toll of some kind on transits.Ronan McGreevy - 2 hours agoStarmer describes Iran deal as ‘important step forward’British prime minister Keir Starmer has welcomed the US-Iran deal. He described it as a “hugely important step forward” in ending the war and ensuring regional stability. “I congratulate president Trump and the mediators from Pakistan, Qatar and elsewhere who have contributed to the breakthrough. “We have long urged de-escalation and this is the progress we have hoped to see. “We are clear that toll-free freedom of navigation must now be restored in the Strait of Hormuz, to begin easing the severe economic impacts that have been felt for several months - on families here in the UK and around the world”. Ronan McGreevy - 3 hours agoMcEntee welcomes ceasefire dealMinister for Foreign Affairs Helen McEntee welcomed the announcement of a deal between the US and Iran. She added in a statement: “I hope there can now be a full engagement by all involved to implement this agreement, address all issues including Iran’s nuclear programme, and achieve a just and lasting peace across the region. “Reopening the Strait to international shipping would bring much-needed relief to the global economy.“The situation in Lebanon is deeply concerning and must also be addressed.” The issues surrounding the ceasefire will be addressed later today at a meeting in Luxembourg of EU foreign ministers. Nella notte abbiamo già espresso, insieme a Francia, Germania e Regno Unito, il nostro forte apprezzamento per il memorandum d’intesa siglato da Stati Uniti e Iran nelle scorse ore.Un grazie sentito va a tutti i mediatori, e in particolare al Qatar e al Pakistan, che hanno reso…— Giorgia Meloni (@GiorgiaMeloni) June 15, 2026