US, Iran reach deal to end war, signing set for Friday
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DUBAI/WASHINGTON - US and Iranian officials said on Sunday they have agreed on a peace framework for a deal to end their war, halt the US blockade of Iran and reopen the Strait of Hormuz, possibly leading to lower energy prices once oil shipments resume through the critical waterway.
Key facts
DUBAI/WASHINGTON - US and Iranian officials said on Sunday they have agreed on a peace framework for a deal to end their war, halt the US blockade of Iran and reopen the Strait of Hormuz, possibly leading to lower energy prices once oil
The Deal with the Islamic Republic of Iran is now complete,"
Brent crude futures fell 4% in early trading on Monday, while US West Texas Intermediate slid more than 4.6%.
A senior Iranian official earlier told Reuters that, under the terms of the draft deal, the United States would agree to release $25 billion of frozen Iranian assets, while Iran would agree not to produce or acquire nuclear weapons
Summary
"The Deal with the Islamic Republic of Iran is now complete," US President Donald Trump wrote on his Truth Social platform around 5.30pm ET local time in Washington on Sunday (4.30am on Monday Thailand time). His post came shortly after Pakistan Prime Minister Shehbaz Sharif, whose country has served as a mediator, announced a deal had been struck early on Monday local time.
The pact will be officially signed on Friday in Switzerland, Sharif wrote.