President Donald Trump announced on Sunday that a peace agreement with Iran had been reached, ahead of a White House UFC event. Iran’s Supreme National Security Council confirmed the same day that Tehran and Washington had finalized a memorandum of understanding aimed at formally ending the conflict after months of negotiations.
In a statement, the council said all military operations across several theaters, including those involving Iranian-backed forces in Lebanon, will cease “immediately and permanently” beginning Sunday night. The U.S. would fully lift its naval blockade of Iran, taking effect immediately, according to Iran International. Negotiations on a broader agreement will begin only after both sides fulfill the commitments outlined in the initial memorandum.
Iranian officials thanked Pakistan and Qatar for facilitating the talks and helping broker the agreement. The memorandum is scheduled to be formally signed on June 19 and would launch a 60-day negotiating period focused on Iran’s nuclear program and the terms of a wider long-term agreement.
“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!” Trump wrote on his Truth Social platform. “I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!” he added.
In a follow-on post, the president said, “This Great Deal will bring Peace and Security to the whole Region. Many presidents have tried to make Peace with Iran, and all have failed before me. The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace.” He noted further, “With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!”
German Chancellor Friedrich Merz praised the agreement. “I welcome the agreement between the U.S. and Iran and congratulate President Trump and the Iranian side on this diplomatic breakthrough,” Merz said in a post on X. “This can pave the way for a reinvigorated global economy and a more secure Middle East. It is crucial to implement it with determination,” he added.
U.S. Ambassador Michael Waltz on Sunday praised Trump for securing the deal that will also enhance U.S. security. “The President has put our country first and negotiated a peace deal that will keep us safe and prevent Iran from ever getting a nuclear weapon,” Waltz said in a post shared on X. “From the very beginning, @POTUS maximized our leverage, limited casualties and brought credible military force to ensure the best possible outcome,” he added before offering his congratulations to Trump. “This is one hell of a way to celebrate a birthday. Congratulations, Mr. President,” Waltz said.
Oil prices tumbled to their lowest levels since March on Monday after President Donald Trump and Iran’s deputy foreign minister announced that the two sides had reached an agreement to end the conflict and restore normal shipping through the strategically vital Strait of Hormuz. According to Reuters, Brent crude futures fell $3.58, or 4.1%, to $83.75 per barrel by 12:04 a.m. GMT. U.S. West Texas Intermediate crude futures dropped $4.01, or 4.7%, to $80.87 per barrel. The sharp decline followed an earlier selloff at the end of last week, with both major oil benchmarks already down more than 3% on Friday as traders bet that easing tensions in the Middle East would reduce the risk of disruptions to global energy supplies.
