US, Iran reach preliminary agreement to end war, signing set for Friday

US and Iranian officials said they had agreed on a framework to end the war, halt the US blockade of Iran and reopen the Strait of Hormuz, a preliminary pact that sent oil prices falling but leaves the fate of Iran’s nuclear programme to further negotiations.

“The Deal with the Islamic Republic of Iran is now complete,” US President Donald Trump wrote on his Truth Social platform around 5:30pm ET local time in Washington (2130 GMT) on Sunday.

His post came shortly after Prime Minister Shehbaz Sharif announced a deal had been struck early on Monday local time.

PM Shehbaz said in a post on X that “following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and Islamic Republic of Iran has been REACHED. Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon”.

He added that the “official signing ceremony” would be on Friday, June 19, in Switzerland.

“We would like to thank the United States of America and the Islamic Republic of Iran for their commitment to finding a diplomatic solution to the conflict. We would also like to extend our sincere appreciation to our brothers in this mediation effort, the great leadership of state of Qatar, for their support in reaching this agreement. I would also especially thank the visionary leadership of the Kingdom of Saudi Arabia and the Republic of Turkiye for their immense contributions in this regard,” he said.

PM Shehbaz added that with the agreement now in place, mediators would facilitate a series of meetings this week. “These pre-implementation discussions will lay the foundation for the technical talks and the official signing ceremony,” he said.

In a statement, the secretariat of Iran’s Supreme National Security Council said war and military operations on all fronts, including Lebanon, would end permanently starting on Monday night.

Lebanon has been a sticking point in negotiations, with Israel ignoring calls from Trump and others to stop its attacks on Lebanon in recent weeks.

Iran’s Deputy Foreign Minister Kazem Gharibabadi said in televised comments that the deal put an “immediate end” to the countries’ war and that they would hold talks within two months to seek a “final agreement.” Just hours earlier, Tehran had vowed to retaliate against a strike by Israel in the suburbs of Beirut, which threatened to push back an agreement.

There was no immediate reaction to the announcement of the agreement from Israel, which has said it was not a party to the US-Iran talks.

Strait to reopen

Trump said the Strait of Hormuz, a major shipping route for global oil and gas supplies that Iran has effectively shut down for months, would open on Friday, and that he had ordered the end of the US blockade of Iranian ports.

“Ships of the World, start your engines. Let the oil flow!” Trump wrote.

Oil prices fell on the news. Brent crude futures fell four per cent in early trading on Monday, while US West Texas Intermediate slid more than 4.6pc. Stock markets in Asia jumped.

Details remain unclear

The contents of the agreement, which followed weeks of fraught negotiations and periodic threats from Trump of fresh hostilities unless Iran reached a deal, remained unclear.

Iran’s Mehr news agency reported that the US will release $12 billion in frozen assets to Iran before the start of negotiations.

It quoted a 14-point “memorandum of understanding” (MoU) between the two nations, which it said stipulated “the release of 24 billion dollars in frozen Iranian assets during the 60-day negotiation period” that begins after the MoU is signed.

The Trump administration did immediately comment on the details of the agreement, which may prove contentious as the US presses its effort to end Tehran’s nuclear ambitions and deal with its stockpile of highly enriched uranium — believed to have been buried by US strikes last year.

Sources told Reuters that the fate of Iran’s nuclear program, another thorny issue, will also be addressed in those later talks.

Thousands of people have been killed, mostly in Iran and Lebanon, since US and Israeli forces first attacked Iran on February 28. Iran has struck Israel and Gulf states hosting US bases and has effectively blockaded the Strait of Hormuz, pushing up global energy prices. US forces have blocked Iranian ports in response.

The Iran war has become a political liability at home for Trump and his fellow Republicans in Congress, with public opinion polls showing Americans deeply frustrated by rising gas prices ahead of November’s midterm elections. But Trump has also faced pressure from members of his own party who insist that Iran’s nuclear programme must be completely shut down.

Republican Senator Lindsey Graham, a leading Iran hawk, praised the deal but said he would be “watching closely” the coming negotiations on Iran’s nuclear programme.

“Under our law, any nuclear deal with Iran will be sent to Congress for review and a vote,” he said. “Congratulations to all in getting us to this point.”

During his first term, Trump withdrew the US from a 2015 multilateral Iran deal, negotiated by Democratic President Barack Obama, that lifted sanctions on Tehran in exchange for limits on its nuclear programme, including international inspections.

Iran responded by ramping up its enrichment of uranium, producing more than 400 kg of material at close to bomb-grade purity. The eventual fate of that uranium is likely to be a key negotiating point during the upcoming talks.

‘A very difficult guy’

The agreement was sealed despite an Israeli strike on Lebanon on Sunday that drew criticism from both Iran and Trump.

Prime Minister Benjamin Netanyahu has differed with Trump over American demands that Israel curb its military action in Lebanon to allow the United States to reach a deal with Iran.

Israel has said it will retain freedom of operations in Lebanon, while Iran has made a full ceasefire there an important component of its demands.

Trump updated Netanyahu on the progress toward a peace deal during a phone call on Sunday, Israel’s N12 reported, citing a senior official.

In an interview with the New York Times, Trump called Netanyahu “a very difficult guy” and argued the Israeli leader should thank him for saving Israel from a nuclear-armed Iran. Leaders outside the Middle East, who have kept a wary eye on the conflict, welcomed the announcement of a deal.

In a joint statement, the United Kingdom, Germany, France and Italy said they were prepared to lift sanctions on Iran in response to “clear, verifiable steps” to limit its nuclear programme.

“We are clear that toll-free freedom of navigation must now be restored in the Strait of Hormuz,” British Prime Minister Keir Starmer said.

“Iran must never have a nuclear weapon.” ...