US, Iran set to sign peace deal Friday

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By Favour Ulebor & Agency Report

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The United States and Iran have reached a tentative agreement aimed at ending months of conflict, with both sides expected to formally sign a peace deal in Switzerland on Friday.

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The proposed agreement includes the cessation of military operations, the reopening of the Strait of Hormuz and the lifting of the US naval blockade on Iranian ports.

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Pakistan’s Prime Minister, Shehbaz Sharif, whose country helped mediate the talks, announced the breakthrough on Monday.

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According to Sharif, the deal provides for the “immediate and permanent termination of military operations on all fronts, including in Lebanon.”

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US President Donald Trump also confirmed the development and said the Strait of Hormuz would reopen on Friday.

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Writing on Truth Social, Trump stated: “Ships of the world, start your engines. Let the oil flow!”

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Iran’s Deputy Foreign Minister, Kazem Gharibabadi, said further negotiations would continue during a 60-day ceasefire period.

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He said the talks would focus on a broader agreement, including the possibility of sanctions relief.

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Some Israeli officials, however, have expressed opposition to the deal.

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Israel’s National Security Minister, Itamar Ben-Gvir, said the agreement was not binding on Israel and reiterated his position that Hezbollah should be dismantled.

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Israel’s Finance Minister, Bezalel Smotrich, also criticised the agreement, arguing that it could have negative implications for Israel and regional security.

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Meanwhile, reactions from the global shipping industry have been mixed.

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The German Shipowners’ Association said it remained uncertain whether the agreement would guarantee safe passage through the Strait of Hormuz but expressed cautious optimism.

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Shipping company Hapag-Lloyd welcomed the announcement and expressed hope that vessels would soon resume normal operations through the waterway.

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The Strait of Hormuz is one of the world’s most important oil transit routes, and its reopening is expected to ease concerns in global energy markets.

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