President Donald Trump announced a peace deal with Iran on Truth Social late Sunday evening, declaring “The Deal with the Islamic Republic of Iran is now complete” and ordering an end to the U.S. naval blockade of Iranian ports. The memorandum of understanding, announced around 5:30 p.m. ET on June 14, 2026, marks the conclusion of months of negotiations and military conflict between the two countries.
Trump said the Strait of Hormuz, a critical global shipping route that Iran has effectively shut down for months, will reopen on Friday. “Ships of the World, start your engines. Let the oil flow!” he wrote on Truth Social. Pakistan’s Prime Minister Shehbaz Sharif, who has served as a mediator, confirmed the deal and said it calls for “the immediate and permanent termination of military operations on all fronts, including in Lebanon.”
The pact is scheduled to be formally signed on Friday in Switzerland. Iran’s Supreme National Security Council confirmed that military operations on all fronts, including Lebanon, would end permanently starting Monday night. The agreement comes after a war that began on February 28, 2026, when U.S. and Israeli forces first attacked Iran, leading to thousands of deaths, mostly in Iran and Lebanon.
What the Deal Includes
The preliminary agreement addresses immediate military and economic concerns but defers the thorniest issues to later negotiations. During a 60-day ceasefire period, the two sides will negotiate a broader agreement that includes sanctions relief for Iran and the fate of its nuclear program. Iran’s deputy foreign minister, Kazem Gharibabadi, said more expansive talks will occur during this window.
According to a senior Iranian official, the U.S. has agreed to release $25 billion in frozen Iranian assets as part of the deal. A U.S. official stated that the agreement will ultimately lead to the dismantling of Iran’s nuclear program, with its stockpile of highly enriched uranium to be destroyed and removed, though a senior Iranian official said the draft deal would allow Iran to dilute its enriched uranium inside the country.
The agreement represents a significant shift from Trump’s earlier stance. During his first term, he withdrew from the 2015 multilateral Iran nuclear deal negotiated by President Barack Obama. Iran responded by ramping up uranium enrichment, producing more than 400 kilograms of material at close to bomb-grade purity—a key point of contention likely to resurface in the coming negotiations.
Market and Political Reaction
Oil markets responded sharply to the news. Brent crude futures fell 4% in early trading on Monday, while U.S. West Texas Intermediate crude slid more than 4.6%. Stock markets in Asia jumped on the announcement. The deal has become a political necessity for Trump, as the Iran war has become a liability at home, with public opinion polls showing Americans frustrated by rising gas prices ahead of November’s midterm elections.
Republican Senator Lindsey Graham, a leading Iran hawk, praised the deal but said he would be “watching closely” the coming negotiations on Iran’s nuclear program. “Under our law, any nuclear deal with Iran will be sent to Congress for review and a vote,” he said. Former Biden administration State Department spokesperson Matthew Miller expressed caution, noting that the U.S. has “no assurances the nuclear program will ever be addressed.”
The agreement was sealed despite Israeli strikes on Lebanon on Sunday that drew criticism from both Iran and Trump. In an interview with the New York Times, Trump called Israeli Prime Minister Benjamin Netanyahu “a very difficult guy” and argued the Israeli leader should thank him for saving Israel from a nuclear-armed Iran. Israel has said it was not party to the U.S.-Iran talks and has retained freedom of operations in Lebanon.
Sources
- Reuters — Confirmed Trump’s Truth Social announcement, deal terms including Strait of Hormuz reopening, naval blockade lifting, signing date, $25 billion asset release, and nuclear program negotiations
- Al Jazeera — Reported on the peace deal announcement and Trump’s statements
- NBC News — Confirmed the agreement to end war and reopen Strait of Hormuz
- CBS News — Reported Trump’s Truth Social announcement that the deal is “complete” and naval blockade authorization
- AP News — Confirmed tentative deal reached and U.S. naval blockade halt
- New York Times — Reported Trump’s comments on Netanyahu and the nuclear program details
