US and Iran agree peace deal, as Trump declares ‘Let the oil flow!’
President Trump said the deal is 'now complete' and announced the reopening of the Strait of Hormuz, which has been closed since February
A peace deal has been reached between the US and Iran, both President Trump and the Prime Minister of Pakistan have confirmed.
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US President Donald Trump revealed that a deal between the two countries has been reached.
He wrote on Truth Social: "The Deal with the Islamic Republic of Iran is now complete,
"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," he says.
"Ships of the World, start your engines. Let the oil flow!
The US President has since clarified that the key waterway will reopen upon the signing of the deal on Friday.
Pakistan's Prime Minister Shehbaz Sharif previously announced the news, saying: "Following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and the Islamic Republic of Iran has been REACHED," he wrote on X.
"Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon."
He added that the official signing ceremony will take place in Switzerland on June 19th.
Following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and Islamic Republic of Iran has been REACHED. Both sides have declared the immediate and permanent termination of military operations on all fronts, including in…
— Shehbaz Sharif (@CMShehbaz) June 14, 2026
Tehran has said the full text will be published after the official signing takes place.
Iran's deputy foreign minister has said the memorandum of understanding doesn't mean there's trust in the "enemy".
Majid Takht-Ravanchi confirmed negotiations for a final peace deal will be held over a period of 60 days. However, he warned Iran will take its own measures if it witnesses breaches from other sides.
The agreement was struck despite an Israeli strike on Lebanon on Sunday that drew criticism from both Iran and the US.
The precise terms of the deal were not immediately known. Sharif said the pact called for "the immediate and permanent termination of military operations on all fronts, including in Lebanon".
Multiple sources previously said that the draft deal would reopen the Strait of Hormuz, end the U.S. blockade of Iranian ports and extend a ceasefire, while leaving Iran's nuclear program to be addressed during 60 days of additional talks.
Earlier on Sunday in a post on X, Iranian negotiator Mohammad Baqer Qalibaf said Israel's latest attack on the southern suburbs of Beirut, which Israel said targeted Iranian-backed Hezbollah militants, showed the United States lacks "the will and ability to fulfil your commitments".
Iran's foreign ministry said it held the United States responsible for the attack. Iran warned of a "strong response", and its top joint military command said the "finger (is) on the trigger" ready to fire at the "enemy's heart".
In a post on his Truth Social platform on Sunday, Mr Trump said: "This morning's attack on Beirut should not have happened, particularly on a special day when we are so close to a Peace Deal with Iran."
Israel has said it was not party to the planned US-Iran deal. Prime Minister Benjamin Netanyahu has differed with Trump over American demands that Israel curb its military action in Lebanon to allow the United States to reach a deal with Iran.
A senior Iranian official earlier said that, under the terms of the draft deal, the United States would agree to release $25 billion of frozen Iranian assets, while Iran would agree not to produce or acquire nuclear weapons.
The official said Iran agreed to maintain the nuclear status quo, including no uranium enrichment or expanding nuclear facilities, until a final deal is reached.