Washington: U.S. President Donald Trump announced that a peace agreement has been reached between the United States and Iran, aimed at concluding their prolonged conflict. The crucial Strait of Hormuz is set to reopen following the signing of the deal, scheduled for Friday this week.
According to Yonhap News Agency, Trump's declaration came via social media after intensive negotiations aimed at ending the hostilities that began with a U.S.-Israeli attack on Iran on February 28. Pakistani Prime Minister Shehbaz Sharif, who played a significant role as a mediator, confirmed that the official signing ceremony for the peace accord will take place in Switzerland.
Trump shared the news on Truth Social, celebrating the completion of the deal with Iran. He emphasized the significance of reopening the Strait of Hormuz and the removal of the U.S. Naval blockade, inviting ships worldwide to resume their activities. He highlighted that the deal would bring peace to the Middle East, a goal previous presidents had not achieved.
While specific details of the agreement were not disclosed, the memorandum of understanding includes reopening the Strait of Hormuz and initiating 60-day technical discussions on Iran's nuclear program. Nations like South Korea have been closely monitoring these developments due to the strategic importance of the strait for global oil and commodity shipments.
The announcement coincided with Trump's 80th birthday celebrations. While an initial signing was set for Sunday, it was postponed due to renewed tensions following an Israeli air strike on Hezbollah in Lebanon. Pakistani Prime Minister Sharif noted that both Washington and Tehran have committed to ending military operations, with the signing ceremony now planned for Friday in Switzerland.
Sharif also mentioned that mediators will facilitate further meetings between the U.S. and Iran this week, laying the groundwork for technical discussions and the official signing. A senior Trump administration official noted that the peace deal paves the way for dismantling Iran's nuclear program and involves the U.S. taking possession of Iran's enriched uranium.
The conflict, initiated by the Trump administration's "Operation Epic Fury," aimed at dismantling Iran's military capabilities, has led to rising energy prices and heightened inflation fears, impacting voter sentiment ahead of the U.S. midterm elections. Countries reliant on the Strait of Hormuz for energy imports, including South Korea, have been eager for a resolution to restore safe passage through the waterway, as numerous vessels remain trapped in the strait.