U.S. and Iranian officials said on Sunday they have agreed on a peace framework for a deal to end their war, halt the U.S. blockade of Iran and reopen the Strait of Hormuz, possibly leading to lower energy prices once oil shipments resume through the critical waterway.
“The Deal with the Islamic Republic of Iran is now complete,” U.S. President Donald Trump wrote on his Truth Social platform at about 5:30 p.m. ET in Washington on Sunday, shortly after Pakistani Prime Minister Shehbaz Sharif announced the agreement early on Monday local time in Pakistan, which has served as a mediator.
The deal will be officially signed on Friday in Switzerland, Sharif wrote.
The precise terms of the deal were not immediately known. Sharif said the pact called for “the immediate and permanent termination of military operations on all fronts, including in Lebanon.”
Lebanon has been a sticking point in negotiations, with Israel and Iranian-back militant group Hezbollah ignoring calls from Trump and others to stop their attacks on each other in recent weeks.
Following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and Islamic Republic of Iran has been REACHED. Both sides have declared the immediate and permanent termination of military operations on all fronts, including in…
Trump said the Strait of Hormuz, a critical shipping lane for global energy supplies that Iran has effectively shut down for months, would be open “toll free” and that a U.S. naval blockade of Iran ports would also end.
“Ships of the World, start your engines. Let the oil flow!” Trump wrote.
Oil prices fell on the news. Brent crude futures declined four per cent in early trading on Monday, while U.S. West Texas Intermediate slid more than 4.6 per cent.
Iran’s deputy foreign minister, Kazem Gharibabadi, said a more expansive agreement would be negotiated during a 60-day ceasefire period, including sanctions relief. The fate of Iran’s nuclear program will also be addressed in those later talks, sources previously told Reuters.
U.S. President Donald Trump and officials in Tehran suggest a peace deal is close, but nothing is signed. After several other promising announcements went nowhere, Iranians remain doubtful. CBC News is reporting from inside Iran.
Thousands of people have been killed, mostly in Iran and Lebanon, since U.S. and Israeli forces first attacked Iran on Feb. 28. Iran has struck Israel and Gulf states hosting U.S. bases and has effectively blockaded the Strait of Hormuz, pushing up global energy prices. U.S. forces have blocked Iranian ports in response.
There was no immediate reaction to the announcement from Israel, which has said it was not party to the planned U.S.-Iran deal.
The Iran war has become a political liability at home for Trump and his fellow Republicans in Congress, with public opinion polls showing Americans deeply frustrated by rising gas prices ahead of November’s midterm elections in which control of Congress will be decided.
Israeli attack
The agreement was sealed despite an Israeli strike on Lebanon on Sunday that drew criticism from both Iran and Trump.
Earlier on Sunday, Iranian negotiator Mohammad Bagher Ghalibaf said in a social media post on X that Israel’s latest attack on the southern suburbs of Beirut, which Israel said targeted Hezbollah, showed that the U.S. lacks “the will and ability to fulfill your commitments.”
Iran’s Foreign Affairs Ministry said it held the U.S. responsible for the attack. Iran warned of a “strong response,” and its top joint military command said the “finger [is] on the trigger” ready to fire at the “enemy’s heart.”
In a post on his Truth Social platform earlier on Sunday, Trump said: “This morning’s attack on Beirut should not have happened, particularly on a special day when we are so close to a Peace Deal with Iran.”
Prime Minister Benjamin Netanyahu has differed with Trump over American demands that Israel curb its military action in Lebanon to allow the U.S. to reach a deal with Iran.
Fox News quoted an unidentified diplomat involved in the talks as saying the Israeli strikes complicated efforts to finalize the U.S.-Iran deal, calling them an attempt to sabotage those efforts.
Israel did not respond to the assertion. It has said it will retain freedom of operations in Lebanon, while Iran has made a full ceasefire there an important component of its demands.
Trump updated Netanyahu on the progress toward a peace deal during a phone call on Sunday, Israel’s N12 reported, citing a senior official.
Deal terms
A senior Iranian official earlier told Reuters that, under the terms of the draft deal, the U.S. would agree to release $25 billion of frozen Iranian assets, while Iran would agree not to produce or acquire nuclear weapons. The official said Iran agreed to maintain the nuclear status quo, including no uranium enrichment or expanding nuclear facilities, until a final deal is reached.
A U.S. official, speaking before the deal was announced, said the agreement would ultimately lead to the dismantling of Iran’s nuclear program, with its stockpile of highly enriched uranium to be destroyed and removed.
A senior Iranian official said the draft deal would allow Iran, which denies seeking a nuclear bomb, to dilute its enriched uranium inside the country.
Qatari negotiators flew to Tehran on Sunday morning as part of efforts to finalize the agreement, a source with knowledge of the situation told Reuters.
At pro-government rallies across Iran on Saturday night, residents and news agencies reported that hardliners opposed to the framework agreement loudly voiced their dissatisfaction.
A resident in the northeastern city of Mashhad told Reuters that some protesters chanted “Death to the compromiser,” in an apparent reference to Foreign Affairs Minister Abbas Araghchi.
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