US-Iran Agreement
Pakistan Prime Minister Announces US-Iran Deal Reached, Signing Expected Friday in Switzerland
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Pakistani Prime Minister Shehbaz Sharif announced Saturday that the United States and Iran have reached a peace deal, with a signing ceremony scheduled for June 19 in Switzerland, according to NBC News. Sharif said both sides have declared "the immediate and permanent termination of military operations on all fronts," ending a four-month regional war that shut down the Strait of Hormuz and pushed global oil prices above $120 per barrel.
U.S. President Donald Trump confirmed the deal on Truth Social, declaring: "Ships of the World, start your engines. Let the oil flow!" Oil prices fell to $84.88 per barrel following the announcement, according to KIRO7.
How a Four-Month War Ended at the Negotiating Table
The conflict began February 28 when U.S. and Israeli forces launched coordinated airstrikes on Iranian military sites under "Operation Epic Fury." Iran responded by closing the Strait of Hormuz — the narrow waterway through which 20% of the world's oil flows. Pakistan brokered a fragile ceasefire in April. Hostilities briefly resumed June 7 after an Israeli strike on Beirut.
Negotiators finalized a "final text" for the peace framework in Geneva and Islamabad on June 11 and 12, according to CJME. The deal also covers Lebanon, extending the ceasefire beyond the Iran-U.S. front. Vice President JD Vance is expected to sign for the American side in Switzerland.
Strait of Hormuz to Reopen, Oil Markets React Immediately
A key part of the deal is Iran's agreement to reopen the Strait of Hormuz, according to CJME. The blockade had caused a global energy crisis. U.S. inflation hit 4.2% in May 2026 — a three-year high — with energy costs up 23.5% year over year. Some Gulf nations relied on blocked shipping for 80% of their food supply.
The U.S. must lift its naval blockade of Iranian ports within 30 days of the signing. Washington will also unfreeze $25 billion in Iranian assets as part of the initial deal. A proposed $300 billion reconstruction fund for Iran, funded by the U.S. and regional partners, is also on the table, according to MindFood.
Israel Calls the Deal a Security Threat
Israeli Prime Minister Benjamin Netanyahu is a vocal opponent of the agreement. Officials close to Netanyahu say the deal "endangers Israel's security interests." On the evening of June 14, Netanyahu convened his security cabinet in a fortified bunker, fearing a last-minute Iranian strike before the signing.
Opposition leader Yair Lapid called the deal "a complete failure," arguing it leaves Iran's missile program and nuclear ambitions intact. A key unresolved issue is what happens to Iran's 440 kilograms of highly enriched uranium. Technical talks on that question begin after signing, during a 60-day negotiation window, according to MindFood.
Pakistan's Role as Unlikely Peacemaker Pays Off
Pakistan played a central role throughout the crisis. PM Sharif hosted high-level talks and helped broker the original April ceasefire. His announcement Saturday placed Islamabad at the center of one of the most significant diplomatic breakthroughs in recent Middle East history, according to The Post Millennial.
Swiss Foreign Minister Ignazio Cassis confirmed Switzerland will host the June 19 signing ceremony. He said the goal is to "pave the way for de-escalation." U.S. Senate Democrats, including Senators Mark Warner and Mark Kelly, said they would wait for the deal's full details before passing judgment.
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