US and Iran reach framework agreement to reopen Hormuz

The United States and Iran have agreed to a framework that would end months of fighting.

In a Truth Social post, President Donald Trump said the deal would restore access through the Strait of Hormuz and end US restrictions on Iranian ports.

Brokered with the help of Pakistan and Qatar, it will be formally signed in Switzerland on Friday.

The development is expected to ease pressure on the global economy, which has been grappling with elevated inflation since the beginning of the war.

Pakistan Prime Minister Shehbaz Sharif shared the announcement on X. He wrote, “Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.”

The deal was confirmed by President Donald Trump and Iran’s National Security Council. In a later post on Truth Social, Trump said, “oil will flow on both ends again for the Region, and the World!”

Initial details suggest the agreement will extend the current ceasefire for another 60 days, giving both sides time to continue negotiations and avoid further military action. Reports also indicate that military operations linked to the conflict, including those involving Lebanon, will be halted.

However, it does not cover Iran’s nuclear program or the economic sanctions imposed by the United States.

The prospect of renewed shipping quickly pushed oil prices lower and lifted stock markets across Asia.

While the full text of the agreement has not yet been released, leaders around the world have welcomed the breakthrough, expressing hope that it will restore regional stability, protect global energy supplies, and pave the way for a lasting peace.

However, Israel signaled caution, saying it would maintain its military positions in Lebanon, Syria, and Gaza while closely monitoring Iran’s actions.