The United States and Iran have reached a peace agreement to end their four-month conflict, with an official signing ceremony scheduled for June 19 in Switzerland.
Key points
- Pakistan Prime Minister Shehbaz Sharif confirmed the deal, which mandates the immediate and permanent cessation of military operations on all fronts, including in Lebanon.
- U.S. President Donald Trump authorized the toll-free opening of the Strait of Hormuz and the immediate removal of the U.S. naval blockade.
- The agreement follows weeks of diplomatic efforts and recent tensions involving Israeli strikes in Lebanon.
- Technical negotiations are expected to continue throughout the week to prepare for the formal signing.
Why it matters
The cessation of hostilities and the reopening of the Strait of Hormuz are expected to alleviate global energy supply constraints and mitigate concerns regarding stagflation.
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