US Announces Deal With Iran to End Hostilities
The cost of oil on Monday has fallen to its pre-Iran war level after President Donald Trump announced on Sunday that the peace deal with the Iranian regime had been completed.
“I hereby fully authorize the toll-free opening of the Strait of Hormuz and, simultaneously herewith, authorize the immediate removal of the U.S. Naval blockade,” the president stated just before 5:30 p.m. in Washington. “Ships of the world, start your engines. Let the oil flow.”
Pakistani Prime Minister Shehbaz Sharif, whose government has served as a key mediator, wrote on X that the United States and Iran had reached a peace deal providing for an “immediate and permanent termination of military operations on all fronts, including in Lebanon,” with a signing ceremony scheduled for Friday in Switzerland.
Iranian Deputy Foreign Minister Kazem Gharibabadi confirmed in a televised interview that the memorandum of understanding between Tehran and Washington had been finalized and would be signed on Friday in Switzerland.
He said the U.S. naval blockade would be lifted starting Monday night and that the agreement provides for the “immediate and permanent end of the war and military operations on various fronts, including Lebanon.”
About an hour after his previous remarks, Trump said that “this great deal will bring peace and security to the whole region.”
Trump signaled how the agreement would affect world oil supplies. “With the opening of the strait upon the signing of the deal on Friday, for purposes of mine removal, oil will flow on both ends again for the region and the world.”
Shehbaz thanked Qatar for its support in the mediation and praised the “visionary leadership” of Saudi Arabia and Turkey for their contributions to reaching the agreement, adding that mediators will convene meetings this week ahead of the signing.
António Guterres, secretary-general of the United Nations and a frequent critic of the Jewish state, lauded the deal. “I warmly congratulate the United States and Iran for having reached a peace deal that provides for an immediate and permanent ceasefire, the reopening of the Strait of Hormuz as well as a framework for further negotiations,” he stated. “This represents a critical step towards the peaceful settlement of the conflict.”
Sen. Lindsey Graham (R-S.C.) stated that he was “pleased to hear the memorandum of understanding with Iran to allow the Strait of Hormuz to open has been agreed to.”
“Under our law, any nuclear deal with Iran will be sent to Congress for review and a vote. I look forward to reviewing the final product, and I believe it is imperative that the architect of the deal, Vice President Vance and his negotiating partners, be part of the process in presenting the final deal to Congress,” Graham wrote.
–JNS
