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The United States has reached a peace deal with Iran, President Donald Trump and Pakistani mediators said Sunday evening. Trump also announced an end to the U.S. blockade of the Strait of Hormuz, writing on Truth Social: “Let the oil flow!”
Pakistani Prime Minister Shehbaz Sharif, who acted as an intermediary between the two sides, said the agreement would be signed next Friday in Switzerland. Sharif said the deal would declare an immediate end to the conflict on all fronts, including in Lebanon, where Israel struck Hezbollah targets in Beirut just hours earlier.
In his Truth Social post, Trump said the U.S. would remove the naval blockade of Iranian ships in the Strait of Hormuz. He added: “Ships of the World, start your engines. Let the oil flow!”
Iranian Deputy Foreign Minister Kazem Gharibabadi confirmed Iran planned to sign the deal next Friday, according to multiple outlets citing statements to Iranian state-affiliated media.
Trump and Sharif did not provide other immediate details about the deal’s contents. Reuters and The New York Times reported that the agreement would give both sides another 60 days to address Iran’s nuclear program, which Trump has repeatedly said Iran must give up for a deal to proceed.
U.S. crude oil was trading at $81.30 per barrel in the immediate aftermath of the announcement. Prices fell about 4.2% in the minutes after trading opened.
Earlier on Sunday, Israeli strikes in Beirut appeared to threaten a possible peace deal. Iran has previously insisted that any ceasefire agreement with the U.S. must also apply to Israel’s ongoing war with Hezbollah in Lebanon.
Mohammad-Bagher Ghalibaf, Iran’s parliamentary speaker, condemned the most recent attack on Beirut on Sunday, saying it showed “America either lacks the will or the ability to fulfill its obligations.” Trump also criticized the strikes in a Truth Social post, writing that the attack “should not have happened,” particularly “on a special day when we are so close to a Peace Deal with Iran.” He described the Hezbollah attack that prompted the strike as “very small and meaningless.”
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