Iran has agreed to reopen the Strait of Hormuz after reaching a fragile peace agreement with the United States.
The deal was formally signed on Friday, June 19, in Switzerland, aiming to put an end to the devastating war and immediately reopen the Strait of Hormuz.
The breakthrough was announced by the U.S. President Donald Trump via social media on Sunday evening, June 14, writing: “The Deal with the Islamic Republic of Iran is now complete. Congratulations to all.”
“Ships of the World, start your engines. Let the oil flow!” he added.
But what exactly does Iran agree to? Here are the key terms:
Reopen Strait of Hormuz
Iran would permit unhindered access to all shipping in the vital sea route. According to the US, the mines will be cleared after the agreement is signed on Friday.
Accept a 60-day ceasefire
The hostilities between the two sides would cease forthwith. The ceasefire includes the conflict that has been going on daily in Lebanon between Israel and Hezbollah.
Negotiate nuclear limits
Iran will negotiate their nuclear program within 60 days. But according to sources, President Donald Trump has agreed to accept low-level enrichment, which is far from the former condition of dismantlement.
No immediate sanctions relief
The U.S. will not immediately address the international sanctions but will later resolve it in future talks.
In return, the U.S. has agreed to lift its naval blockade of Iranian ports.
For now, the strait is reopening, but it is still uncertain how long this will last.
