US and Iranian officials have agreed on a framework to end their war, halt the US blockade of Iran, and reopen the Strait of Hormuz. The preliminary pact has sent oil prices falling while US President Donald Trump announced that the fate of Iran’s nuclear program remains subject to further negotiations.
Trump wrote that the deal with the Islamic Republic of Iran is now complete, shortly after Pakistani Prime Minister Shehbaz Sharif, whose country has served as a mediator, announced a deal had been struck early on Monday local time.
The memorandum of understanding is scheduled to be officially signed on Friday in Switzerland, with the precise terms not immediately known. Sharif said the pact called for the immediate and permanent termination of military operations on all fronts, including in Lebanon, which has been a sticking point in negotiations.
Iran’s deputy foreign minister, Kazem Gharibabadi, said a more expansive agreement would be negotiated during a 60-day ceasefire period, including sanctions relief for Iran and addressing the fate of Iran’s nuclear program.
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