Iran has agreed to reopen the Strait of Hormuz after reaching a fragile peace agreement with the United States.
The agreement was formally signed on Friday, June 19 in Switzerland and aims to end the devastating war and immediately reopen 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 everyone.”
“Ships of the world, start your engines. Let the oil flow!” he added.
But what exactly does Iran accept? Here are the key terms:
Reopen the Strait of Hormuz
Iran would allow unimpeded access to all shipping on the vital sea route. According to the United States, the mines will be removed once the agreement is signed on Friday.
Accept a 60-day ceasefire
Hostilities between both sides would cease immediately. The ceasefire includes the conflict that unfolds 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 agreed to accept low-level enrichment, which is a far cry from the old decommissioning condition.
No immediate sanctions relief
The United States will not immediately address international sanctions, but will resolve them later in future talks.
In exchange, the United States agreed to lift its naval blockade of Iranian ports.
For now, the strait is reopening, but it is not yet known how long it will last.
