US-Iran Peace Deal
Initial Deal to End US-Iran War Progresses Toward Formal Signing Amid Unanswered Questions
A ceasefire deal between the United States and Iran is moving toward a formal signing ceremony in Geneva on Friday, June 19, as the so-called "100-Day War" edges toward an official end AP News. President Trump announced the initial Memorandum of Understanding on Sunday, June 14, posting on social media: "The Deal with the Islamic Republic of Iran is now complete... Ships of the World, start your engines. Let the oil flow!" CBS News.
Global markets surged on the news. Stocks in Tokyo and Seoul gained over 5%, while S&P 500 and Dow futures rose roughly 1% AP News. Oil prices dropped more than $4.00 per barrel immediately after the announcement AP News.
How a 100-Day War Reached a Ceasefire Deal
The conflict began on February 28, 2026, when the U.S. and Israel launched joint strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei AP News. Iran retaliated by closing the Strait of Hormuz — the waterway that carries 20% of the world's crude oil — sparking a global energy crisis AP News. Thousands were killed across the Middle East in the months that followed.
Pakistan's Prime Minister Shehbaz Sharif served as the lead mediator. He confirmed the agreement calls for the "immediate and permanent termination of military operations on all fronts, including in Lebanon" NPR. The U.S. House passed a war powers resolution to halt further strikes on June 4, adding pressure on the White House to reach a deal PBS NewsHour.
Iran's Nuclear Program Leaves a 60-Day Countdown Ticking
The deal does not resolve Iran's nuclear program. Instead, it opens a 60-day window to negotiate the fate of Tehran's highly enriched uranium and ballistic missiles PBS NewsHour. Analysts warn that settling issues it took years to work out in the 2015 nuclear agreement — a deal Trump abandoned in his first term — within just two months is an extremely ambitious goal PBS NewsHour.
Iran's Deputy Foreign Minister Kazem Gharibabadi confirmed the deal on state TV but said implementation would only begin after the formal Friday signing PBS NewsHour. Iranian state media initially framed the agreement as a U.S. retreat, with some banners reading: "US was forced to sign an agreement to end the war" CBS News.
Israel's Lebanon Offensive Threatens to Derail the Peace
Israel is not a party to the U.S.-Iran deal, and Prime Minister Benjamin Netanyahu has rejected its Lebanon-related terms. Sources say he told Trump that Israel is not bound by the agreement and will not pull troops out of Lebanon CBS News. Defense Minister Yoav Gallant confirmed Israel would not withdraw from seized Lebanese territory PBS NewsHour.
Iran has said that a stop to the Lebanon fighting is a must before any permanent settlement is reached PBS NewsHour. Heavy Israeli airstrikes hit Beirut's southern suburbs on the morning of June 14 — just hours before Trump announced the deal — and nearly derailed the negotiations entirely CBS News. Israelis across the political spectrum have expressed fury at Netanyahu, with critics calling the interim deal a "disaster" AP News.
Strait of Hormuz Reopening and the Road to Geneva
With the ceasefire in place, clearing the Strait of Hormuz is now the top priority. Trump has asked G7 allies, including Britain and France, to help demine the waterway so oil tankers can safely pass CBS News. Trump arrived at the G7 summit in Evian-les-Bains, France, on Monday to lobby world leaders for support AP News.
UN Secretary-General António Guterres called the deal a "critical step" and praised Pakistan, Qatar, Egypt, Saudi Arabia, and Türkiye for their mediating roles UN News. Some G7 leaders, while welcoming the ceasefire, remain skeptical that the 60-day nuclear window is realistic AP News. The formal signing is scheduled for Geneva on Friday, June 19.
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