US President Donald Trump announced on Sunday evening, June 14, that a breakthrough agreement with Iran has been reached, declaring what he called a major geopolitical and energy-market shift.
The Strait of Hormuz, through which roughly 20% of global oil trade flows is expected to reopen on Friday, June 19, following the signing of the deal in Switzerland, according to officials.
“The Deal with the Islamic Republic of Iran is now complete,” Trump wrote on Truth Social. “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!”
The agreement is expected to trigger a 60-day negotiation phase focused on Iran’s nuclear programme and the scope of potential sanctions relief, officials said.
Pakistan’s Prime Minister Shehbaz Sharif also confirmed the development, saying on X that “the Peace Deal between the United States of America and Islamic Republic of Iran has been REACHED,” adding that both sides had agreed to “immediate and permanent termination of military operations on all fronts.”
While the full text of the deal has not been made public, the White House earlier outlined key provisions, including Iran’s destruction of highly enriched uranium, a pledge never to pursue nuclear weapons, phased economic relief tied to verification steps, immediate reopening of the Strait of Hormuz upon signing, and a halt to support for militant groups such as Hezbollah.
A senior administration official said sanctions relief would be delivered in stages, “around physical milestones,” emphasizing verification and compliance as central to implementation.
