by Stefan J. Bos, Worthy News Chief International Correspondent
WASHINGTON/TEHRAN (Worthy News) – U.S. President Donald J. Trump and Pakistani Prime Minister Shehbaz Sharif announced Sunday that the United States and Iran had reached what they described as a peace agreement aimed at ending months of conflict and reopening the strategically important Strait of Hormuz.
“The Deal with the Islamic Republic of Iran is now complete,” Trump said in a statement posted on Truth Social, adding that he had authorized the reopening of the Strait of Hormuz and the removal of a U.S. naval blockade.
Sharif announced a similar breakthrough on social media platform X, saying that after intensive negotiations, the United States and Iran had agreed to the “immediate and permanent termination of military operations on all fronts, including in Lebanon.”
Iranian state media also broadcast news of the reported agreement.
PEACE FRAMEWORK
According to statements from both sides, a signing ceremony is scheduled for Friday in Switzerland, where officials are expected to formalize the agreement.
U.S. Vice President JD Vance said he plans to attend the signing, while Trump may also participate.
The memorandum of understanding is expected to launch an additional 60 days of negotiations aimed at securing a broader settlement and ending hostilities that escalated after the outbreak of war earlier this year.
OIL MARKETS RESPOND
News of the reported breakthrough sent oil prices lower on Sunday, with traders reacting to expectations that energy supplies could normalize.
The Strait of Hormuz, located between Iran and Oman, is one of the world’s most important oil transit routes, carrying a significant share of global crude exports. Disruptions to shipping through the waterway have fueled concerns about energy security and higher fuel prices worldwide.
The full text of the agreement had not been released by Sunday evening, leaving questions about implementation, verification mechanisms, and the long-term commitments expected from both sides.
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