What to Know about a Possible Deal to End the Iran War

The United States and Iran have reached an initial agreement to open the Strait of Hormuz and extend a shaky ceasefire, potentially easing a global energy crisis. The tentative deal, announced early Monday, could allow much-needed oil and natural gas to flow to the international market, offering a path to end a conflict that has claimed thousands of lives and destabilized the Middle East.

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Congratulations to all!

Details of the agreement were not immediately disclosed, but Iran indicated that implementation would not begin until a signing ceremony scheduled for Friday in Switzerland. Key mediator Pakistan confirmed the upcoming signing. The deal faces significant hurdles, including ongoing hostilities between Israel and Iranian-backed Hezbollah in Lebanon, which nearly jeopardized the negotiations. Furthermore, the agreement provides only 60 days to address Iran's stockpile of highly enriched uranium and its nuclear program, a complex issue that took years to resolve in the 2015 nuclear accord from which the US had previously withdrawn.

U.S. President Donald Trump celebrated the preliminary agreement on social media, authorizing the "toll free opening of the Strait of Hormuz" and the "immediate removal of the United States Naval blockade." However, he later clarified that the strait would not open until Friday's signing. Iran's deputy foreign minister, Kazem Gharibabadi, confirmed the agreement, stating that Iran would not begin implementation until the signing. He noted that Qatar also served as a mediator in the talks.

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I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade.

Israel, which joined the US in launching the war and has expressed concerns about Iran's regional influence, had not immediately commented on the deal. The news prompted a drop of more than $4 per barrel in benchmark Brent crude oil prices, while Asian stock markets rallied. Pakistan's Prime Minister Shehbaz Sharif announced that both sides had agreed to an immediate and permanent termination of military operations on all fronts, including in Lebanon, though it remains unclear if Israel has agreed to this specific term.

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Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.