The United States and Iran have reached a ceasefire agreement to end their 107-day conflict, with both sides announcing a permanent halt to military operations and setting Friday for the formal signing of a peace accord mediated by Pakistan.
Under the emerging deal, US President Donald Trump announced the immediate lifting of the American naval blockade and authorised the reopening of the Strait of Hormuz, a key global oil shipping route whose closure had disrupted energy supplies and unsettled global markets.
Trump, writing on Truth Social, said: “I hereby fully authorise the toll free opening of the Strait of Hormuz, and simultaneously authorise the immediate removal of the United States naval blockade.”
The development is expected to ease pressure on global oil prices and restore stability to energy markets that have been volatile since the outbreak of hostilities.
Pakistan, which brokered the agreement alongside other regional actors, confirmed that the formal signing ceremony will take place on Friday in Switzerland. Pakistani Prime Minister Shehbaz Sharif said both sides had agreed to “the immediate and permanent termination of military operations on all fronts, including in Lebanon.”
However, he noted that broader negotiations on unresolved issues, particularly Iran’s nuclear programme, would continue over the next 60 days, with the possibility of extension if no agreement is reached.
Iran’s Deputy Foreign Minister, Kazem Gharibabadi, confirmed the ceasefire deal on state television, but said implementation would only begin after the official signing. He disclosed that the agreement followed more than 14 hours of talks in Tehran involving a Qatari mediator.
While the ceasefire marks a major diplomatic breakthrough, key details of the agreement have not yet been fully disclosed. Officials say sensitive issues, including Iran’s nuclear activities, remain subject to further negotiation.
The war, which began on February 28, escalated rapidly with strikes that reportedly killed Iran’s Supreme Leader, Ayatollah Ali Khamenei, and triggered wider regional instability. His successor, reportedly his son, has not been seen publicly since the conflict began, and his approval was required for the agreement, according to diplomatic sources.
The conflict also intensified military activity across the region, particularly in Lebanon, where Israel expanded operations against Hezbollah, an Iran-backed group. Tehran reportedly pushed for the ceasefire to include a broader regional truce and the release of frozen assets.
Despite the ceasefire, analysts note that Iran still retains significant military and strategic capabilities, including its missile programme, support for regional proxy groups, and a stockpile of highly enriched uranium. According to the International Atomic Energy Agency (IAEA), Iran currently holds 440.9 kilograms of uranium enriched up to 60 per cent purity, close to weapons-grade levels.
Iran has consistently maintained that its nuclear programme is peaceful and has not agreed to dismantle its enriched uranium stockpile, much of which is believed to be stored across heavily fortified sites.
The agreement has drawn mixed reactions internationally. Israel and some critics within US political circles have reportedly questioned the deal, arguing that it does not sufficiently address Iran’s nuclear ambitions. Others have compared it to previous nuclear negotiations abandoned during Trump’s first term.
Following news of the agreement, global oil markets reacted sharply. Brent crude fell by 3.9 per cent to about $84 per barrel, while US West Texas Intermediate dropped by 4.8 per cent to around $81 per barrel.
Energy analysts say prices could decline further if stability returns to the Strait of Hormuz, which handles a significant share of global oil and gas shipments. However, they caution that full normalisation will require time, including de-mining of sea routes, restoration of production infrastructure, and reopening of damaged facilities across the region.
Leave a Reply