WASHINGTON — The United States and Iran have reached a framework agreement to end months of conflict and reopen the Strait of Hormuz, officials from both countries said on Monday, in a move aimed at restoring maritime traffic through one of the world's most important energy corridors.
The agreement, announced after mediation efforts led by Pakistan, is expected to be formally signed in Switzerland later this week, according to statements from U.S., Iranian and Pakistani officials. The deal calls for a ceasefire and the reopening of the Strait of Hormuz, while broader issues, including Iran's nuclear program and sanctions-related matters, are to be addressed in subsequent negotiations.
U.S. President Donald Trump announced the breakthrough on social media on Sunday, writing: "The Deal with the Islamic Republic of Iran is now complete." Pakistani Prime Minister Shehbaz Sharif said the parties had agreed to the "immediate and permanent termination of military operations" following intensive talks.
Iranian and U.S. officials described the accord as a preliminary framework rather than a final settlement. Details of several provisions remain unclear, and negotiators are expected to continue discussions during a planned negotiation period following the signing ceremony.
The conflict escalated after U.S.-Israeli strikes on Iran earlier this year, disrupting shipping, energy markets and trade across the region. The Strait of Hormuz, which carries a significant share of global oil and liquefied natural gas shipments, saw sharply reduced traffic during the fighting.
Financial markets reacted quickly to the announcement. Oil prices fell on expectations that energy exports and commercial shipping could resume more normally once the waterway reopens. Gulf stock markets also posted gains as investors welcomed signs of de-escalation.
Shipping companies and industry groups, however, urged caution. Danish shipping company Maersk said it welcomed the agreement but had not yet altered operations in the region, citing limited information about the deal and ongoing security concerns. Industry officials said mine clearance and safety assessments may be required before normal traffic levels return.
As of Monday, preparations were under way for the planned signing in Switzerland, while governments and shipping operators awaited further details on implementation. Officials said negotiations on unresolved issues would continue after the agreement takes effect.
