By Blessing Nweke
The United States and Iran have reached an agreement aimed at ending months of conflict and reopening the strategically vital Strait of Hormuz, according to announcements from U.S. President Donald Trump and Iranian state-affiliated media on Sunday.
Trump declared on Truth Social that the deal was complete and authorized the removal of the U.S. naval blockade, paving the way for commercial shipping to resume through the waterway. “Let the oil flow!” Trump wrote, describing the agreement as a major breakthrough.
Pakistani Prime Minister Shehbaz Sharif also confirmed the development, saying intensive negotiations had resulted in a peace deal between Washington and Tehran. He said both sides agreed to an immediate and permanent end to military operations, including hostilities involving Lebanon, and noted that a formal signing ceremony is scheduled for Friday in Switzerland.
According to Iranian media reports, the draft memorandum of understanding contains 14 provisions, including a permanent ceasefire, withdrawal of U.S. forces positioned around Iran, and the reopening of the Strait of Hormuz. Iran is also expected to reaffirm its commitment under the Nuclear Non-Proliferation Treaty not to develop nuclear weapons, a key demand repeatedly emphasized by Trump during negotiations.
The White House has not publicly commented on the reported details of the memorandum.
Global leaders welcomed the agreement. United Nations Secretary-General António Guterres described it as a critical step toward a peaceful resolution of the conflict, while leaders from Qatar, the United Kingdom and France praised efforts to reduce regional tensions.
Financial markets reacted positively. U.S. crude oil prices fell more than 4.5% to around $80 per barrel, while Brent crude dropped roughly 4%, reflecting expectations that energy supplies will stabilize following the reopening of one of the world’s most important oil transit routes.
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