Iran · Strait of Hormuz · Donald Trump · Axios
U.S. and Iran reach agreement to extend ceasefire and open strait
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The U.S. and Iran agreed to a framework extending their ceasefire for 60 days, with a formal signing ceremony expected Friday and nuclear talks to follow.
Key facts
- Pakistani Prime Minister Shehbaz Sharif announced Sunday the framework agreement to reopen the strait and launch nuclear talks after 107 days of war
- What they're saying: "The Deal with the Islamic Republic of Iran is now complete
- The U.S. and Iran agreed to a framework extending their ceasefire for 60 days, with a formal signing ceremony expected Friday and nuclear talks to follow
- The agreement is designed to restore shipping through the Strait of Hormuz, which before the war handled about 20% of global oil and liquefied natural gas
Summary
The memorandum of understanding would mark the war's biggest diplomatic breakthrough and buy time for negotiations over unresolved nuclear questions. The agreement is designed to restore shipping through the Strait of Hormuz, which before the war handled about 20% of global oil and liquefied natural gas. Fully reopening the strait may not happen immediately. Pakistani Prime Minister Shehbaz Sharif announced Sunday the framework agreement to reopen the strait and launch nuclear talks after 107 days of war.