US-Iran Deal Progress
Initial deal to end US-Iran war progresses toward formal signing, but questions remain
A deal to end the US-Iran war is moving toward a formal signing ceremony, even as major questions remain unresolved. The two sides signed an initial Memorandum of Understanding on June 14, with a full ceremony now scheduled for June 19 in Geneva, Switzerland, according to AP News.
The conflict — sometimes called the "Hundred Day War" — began on February 28 with massive US and Israeli airstrikes on Iran. It closed the Strait of Hormuz, the waterway that carries 20% of the world's oil, and killed thousands of people across the Middle East. Oil prices fell more than $4 a barrel immediately after the deal was announced, AP News reported.
How the Hundred Day War Began and Ended
The war started after a US deadline for a new nuclear deal with Iran expired in early 2026. On February 28, the US and Israel launched coordinated airstrikes on Iran. Supreme Leader Ayatollah Ali Khamenei was killed in the first wave of strikes, along with several top Iranian leaders, according to The New Indian Express.
Iran's son Mojtaba Khamenei took over as Supreme Leader on March 9 and vowed to fight on. Iran's main weapon in response was closing the Strait of Hormuz, which choked off global oil supplies and created intense political pressure inside the US. Pakistan's Prime Minister Shehbaz Sharif eventually brokered the talks that led to the deal, The Guardian reported.
Trump Signs Deal on His 80th Birthday, Orders Blockade Lifted
President Donald Trump announced the initial MOU on his 80th birthday. He ordered an end to the US naval blockade of Iranian ports the same day. "Ships of the World, start your engines. Let the oil flow!" Trump declared, according to The Guardian.
Iranian Foreign Minister Abbas Araghchi confirmed that military operations on all fronts had ended permanently, Al Jazeera reported. Vice President JD Vance is set to lead the US delegation to Geneva for the formal signing on June 19. After that, a 60-day window of technical talks will begin to address Iran's nuclear stockpile and US sanctions.
Israel's Strikes in Lebanon Could Still Collapse the Deal
The deal calls for a ceasefire on "all fronts," but Israel is not a party to the agreement. Israeli Prime Minister Benjamin Netanyahu said his country would stay in its Lebanon buffer zone "as long as necessary," according to AP News. Israeli forces launched new strikes in Lebanon even as the MOU was being announced.
Far-right Israeli Finance Minister Bezalel Smotrich called the deal "bad for Israel and the entire free world," The Guardian reported. Analysts say Israel's refusal to leave seized territory in Lebanon is the most likely reason the deal could fall apart before it is even finalized.
Strait of Hormuz Reopening Faces Real-World Delays
Even with a deal signed, reopening the Strait of Hormuz is not instant. Analysts at CSIS warn that removing mines and restoring shipping insurance confidence could take months. Iran also added a last-minute clause to the MOU allowing it to collect "maritime service fees" from ships passing through the Strait, according to Eurasia Review.
Asian stock markets in Tokyo and Seoul surged more than 5% on the news, AP News reported. The US is also reportedly considering a $300 billion reconstruction fund for Iran if the peace deal holds, according to The Guardian. The UN Secretary-General called the agreement a "critical step toward ending conflict."
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