WASHINGTON (dpa-AFX) - The United States and Iran have agreed to a peace deal to end the Middle East war. The agreement will be signed on this Friday in Geneva, Switzerland.
The diplomatic breakthrough came hours ahead of President Donald Trump's departure to Europe for the G7 summit.
He announced that the Strait of Hormuz will reopen after the agreement is signed and the United States will lift its naval blockade of Iranian ports.
Trump wrote on Truth Social Sunday evening, announcing the news that the world has been anxiously waiting for.
'The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!'
In a follow up post, the President said this deal will bring peace and security to the whole region. 'Many presidents have tried to make Peace with Iran, and all have failed before me. The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace. With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!'
Pakistan, a key mediator in the weeks-long peace talks, said an official signing ceremony will be held in Geneva, Switzerland.
US Vice President JD Vance reportedly said he plans to attend it.
For the first time, Iran has confirmed that an agreement has been reached, which provides for an immediate and permanent ceasefire, the reopening of the Strait of Hormuz, and a framework for further negotiations.
Iran's Foreign Minister Abbas Araghchi said on his Telegram account that he called his counterparts in Turkey, Iraq and Egypt on Monday and demanded that Israel must halt all attacks on Lebanon.
Washington holds the responsibility for implementing the framework deal on ending the war, according to him.
Deputy Foreign Minister Kazem Gharibabadi said negotiations for a final, longer-term agreement would continue over a 60-day truce period.
UN Secretary General António Guterres welcomed the new peace deal, calling it a 'critical step' toward ending the conflict.
He said he hopes the parties will build on the momentum and 'redouble their efforts' toward a final resolution. He also reaffirmed that the United Nations stands ready to support efforts toward a 'durable and comprehensive peace.'
The conflict had begun in late February with U.S. and Israeli strikes across Iran. Iran responded with attacks on Israel and US allies in the Gulf.
The fighting led to the effective closure of the Strait of Hormuz, a key shipping lane through which about 20 per cent of the world's oil and liquefied natural gas normally passes.
Despite a ceasefire agreed in April, the United States and Iran have exchanged intermittent fire, including two rounds of tit-for-tat strikes last week.
After breakthrough in US-Iran negotiations, oil prices have dropped sharply.
Brent crude oil plunged more than 5 percent to around $82 per barrel on Monday, touching its lowest level in two months, while the US-traded WTI fell below $81.
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