The United States and Iran have finalised a framework agreement to end more than 15 weeks of conflict, with a formal signing ceremony set for June 19 in Geneva. The deal, brokered by Pakistan with support from regional mediators, will see the US lift its blockade of Iranian ports and reopen the Strait of Hormuz to international shipping. Nearly one-fifth of global oil supplies pass through the strategic waterway, and its reopening has already triggered a drop in oil prices to their lowest in over three months. US President Donald Trump and Iranian officials confirmed the agreement, though the full text has not been released and will only be made public after the signing.
Pakistan's Prime Minister Shehbaz Sharif announced the successful negotiation of the deal, while Iranian Deputy Foreign Minister Kazem Gharibabadi confirmed the memorandum of understanding is ready for signatures. The agreement paves the way for renewed nuclear negotiations between Washington and Tehran. Despite the progress, key details remain unclear, including the status of Iran's uranium stockpiles, frozen assets, and the exact terms for shipping through the Strait of Hormuz. Iranian media suggest Tehran may impose transit fees after a 60-day negotiation period, even as Washington claims the waterway will reopen without restrictions.
The deal has drawn mixed reactions across the Middle East. Iran says the agreement includes a halt to military operations on all fronts, including in Lebanon. However, Israeli Defence Minister Israel Katz stated Israel would keep its forces in what it calls strategic security zones in southern Lebanon. The European Union, China, Turkey, France and the United Kingdom have welcomed the breakthrough, calling it a positive development for regional stability and global trade.
Iran claims the deal halts military actions across fronts including Lebanon, yet Israel insists it will keep troops in southern Lebanon. The contradiction exposes the fragility of the agreement's security provisions. Nigerian importers relying on Hormuz oil shipments face uncertainty until transit terms are clear. The lack of public details leaves global markets guessing at what the deal truly delivers.
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