The United States and Iran have reached a memorandum of understanding aimed at ending months of hostilities, with both sides expected to formally sign the agreement in Switzerland on Friday.
Iran confirmed that the deal would bring an end to fighting on all fronts, including the conflict in Lebanon, while US President Donald Trump announced that Washington would lift its naval blockade of Iranian ports as part of the agreement.
Trump also said the Strait of Hormuz, a critical global oil shipping route, would reopen once the agreement is signed and demining operations are completed. He described the breakthrough as a major step toward restoring stability in the Middle East and ensuring the free flow of global energy supplies.
Iran’s National Security Council said the agreement would end the conflict “immediately and permanently,” while Iranian officials presented the development as the result of the country’s resilience in the face of military and economic pressure.
The announcement has been welcomed by several countries and international organisations. The International Maritime Organization described the agreement as an important step toward restoring safety and freedom of navigation in the Strait of Hormuz, while Kuwait praised the mediation efforts of Qatar and Pakistan in helping bridge differences between the two sides.
Iranian Foreign Minister Abbas Araghchi also held talks with his counterparts in Egypt, Iraq and Turkiye, stressing the need to halt Israeli attacks in Lebanon and promote regional stability.
Despite the breakthrough, uncertainty remains over the deal’s long-term impact. Israeli officials reacted cautiously, with Defence Minister Israel Katz insisting that Israel would maintain its military presence in parts of southern Lebanon. National Security Minister Itamar Ben-Gvir also said Israel was not bound by the agreement and would continue to act in what it considers its national security interests.
The agreement has nevertheless boosted optimism in global markets, with oil prices falling and stock markets rallying on expectations that tensions in the region could ease in the coming weeks.
Further negotiations are expected over the next 60 days to finalise the terms of a broader settlement, including issues related to regional security and Iran’s nuclear programme.