Iran has agreed to reopen the Strait of Hormuz after striking a fragile peace deal with the United States.
The agreement was formally signed on Friday, June 19 in Switzerland, with the aim of putting an end to the devastating war and immediately reopening the Strait of Hormuz.
The breakthrough was announced by US 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 does Iran actually agree to? Here are the key concepts:
Reopen the Strait of Hormuz
Iran will allow unimpeded access to all shipping on the vital sea route. According to the US, the mines will be cleared after the agreement is signed on Friday.
Accept a 60-day truce
Hostilities between the two sides would cease immediately. The ceasefire includes the conflict that has been going on daily in Lebanon between Israel and Hezbollah.
Negotiate nuclear limits
Iran will negotiate its nuclear program within 60 days. But according to sources, President Donald Trump has agreed to accept low-level enrichment, a far cry from the previous condition for decommissioning.
No immediate easing of sanctions
The US will not immediately address the international sanctions, but will later resolve it in future negotiations.
In return, the US has agreed to lift its naval blockade of Iranian ports.
So far, the strait is reopening, but it is still uncertain how long that will last.
