Iran has agreed to reopen the Strait of Hormuz after reaching a fragile peace deal with the United States.
The agreement was officially signed on Friday June 19 in Switzerland, aiming to end the devastating war and immediately reopen the Strait of Hormuz.
This breakthrough was announced by US President Donald Trump via social media on Sunday evening, June 14, writing: “The agreement with the Islamic Republic of Iran is now concluded. Congratulations to all.”
“Ships of the World, start your engines. Let the oil flow!” he added.
But what exactly is Iran agreeing to? Here are the key terms:
Reopen the Strait of Hormuz
Iran would allow unhindered access to all ships using this vital maritime route. According to the United States, the mines will be cleared after the agreement is signed on Friday.
Agree to a 60-day ceasefire
Hostilities between the two camps would cease immediately. The ceasefire includes the daily conflict in Lebanon between Israel and Hezbollah.
Negotiating nuclear limits
Iran will negotiate its nuclear program within 60 days. But according to sources, President Donald Trump has agreed to accept low enrichment, which is a far cry from the old terms of the dismantlement.
No immediate sanctions relief
The United States will not immediately address international sanctions, but will resolve them later in future negotiations.
In exchange, the United States agreed to lift the naval blockade of Iranian ports.
For now, the strait is reopening, but it is still unclear how long this will last.
