Mexico hails Iran-U.S. peace deal as 'good news for the world'

Mexican President Claudia Sheinbaum welcomed the peace agreement between the United States and Iran, hailing it as a significant development for global stability and economic relief. The accord, announced by Pakistani Prime Minister Shehbaz Sharif and confirmed by U.S. President Donald Trump and Iranian authorities, is set to be signed this Friday.

"It's good. Let's hope this agreement is truly signed this week. Whenever peace is built in the world, we celebrate it," Sheinbaum remarked during her morning press conference. She noted that the price of oil had already dropped to around $80 per barrel following the announcement, a trend she described as helpful and "good news for the world."

The agreement establishes a 60-day ceasefire, encompassing Lebanon, and includes the reopening of the Strait of Hormuz. It also entails the lifting of sanctions against Iran and the resumption of discussions regarding its nuclear program. Sheinbaum emphasized that this would provide a "respite for the economy, from countries down to personal economies."

Sheinbaum further highlighted the importance of reopening the Strait of Hormuz, a vital waterway through which 20% of the world's oil passed before the conflict. Iran had closed the strait at the start of the war on February 28, prompting a U.S. blockade of Iranian ports and vessels in mid-April. The reopening will improve access to oil, particularly for Asian and European countries that faced supply issues beyond just high prices.