U.S. and Iran agree to 60-day ceasefire and Strait of Hormuz reopening after months of conflict disrupting energy markets.
U.S. President Donald Trump stated the Iran deal, signed Thursday, was negotiated to avert a global economic depression triggered by prolonged conflict. The agreement includes a 60-day ceasefire, reopening of the Strait of Hormuz, and a framework for nuclear talks, though key details remain unresolved.
The deal follows three and a half months of tensions that disrupted maritime traffic in the Strait of Hormuz, a critical chokepoint for global oil shipments. U.S. Central Command confirmed the lifting of all blockade enforcement, though naval assets will remain in the region to monitor compliance.
Trump described the agreement as an ‘unconditional surrender’ by Iran but emphasized his role in preventing further economic fallout. Markets had reacted sharply to the conflict, with energy prices volatile amid supply concerns.