Iran Peace Deal
Tentative Deal Reached to End Iran War; Trump Halts US Naval Blockade
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The United States and Iran reached a tentative deal early Sunday to end their three-month war, with President Trump ordering an immediate halt to the U.S. naval blockade of Iranian ports AP News. Pakistani Prime Minister Shehbaz Sharif announced the agreement on June 14, calling it the "permanent termination of military operations on all fronts, including in Lebanon" Al Jazeera.
Trump confirmed the deal via social media, declaring, "Ships of the World, start your engines. Let the oil flow!" The announcement came just after midnight EDT on June 15 — on his 80th birthday. The accord gives Iran and the U.S. 60 days to resolve Iran's stockpile of highly enriched uranium AP News.
How a Three-Month War Finally Came to a Stop
The conflict began February 28, 2026, when the U.S. and Israel launched Operation Epic Fury — nearly 900 airstrikes in 12 hours targeting Iranian nuclear sites, military infrastructure, and leadership AP News. The strikes killed Supreme Leader Ali Khamenei. Iran retaliated within days by closing the Strait of Hormuz, the narrow waterway through which 20 million barrels of oil flow every day — one-fifth of global consumption Vision of Humanity.
A temporary ceasefire in April collapsed after failed talks in Islamabad. Trump then ordered a naval blockade on April 13 that cost Iran an estimated $500 million per day AP News. By May 1, Iran had lost roughly $4.8 billion in oil revenue. Negotiators in Dubai finally hammered out a framework in late May, and Trump told reporters June 11 that a "great settlement" had been reached The National Desk.
Oil Prices Drop as the Strait of Hormuz Reopens
The blockade's end is expected to send oil prices falling fast. Brent Crude surged past $110 to $120 per barrel during the war as tankers were kept out of the strait The Guardian. Iran's deputy foreign minister, Kazem Gharibabadi, confirmed the deal on state television but said implementation would not begin until the formal signing ceremony, scheduled for June 19 in Switzerland AP News.
Analysts warn the relief may be complicated. Iran has now proven it can effectively close the world's most critical oil artery, giving it lasting leverage in any future standoff Vision of Humanity. The deal also includes $12 billion in frozen Iranian assets that will be released to kick off the 60-day nuclear negotiation window eNCA.
Trump Claims Victory, Iran Says America Blinked
The Trump administration is calling the deal a win for "maximum pressure" — its strategy of military force and economic squeezing. Secretary of State Marco Rubio praised Trump's "incredible courage" in reaching the agreement AP News. Vice President JD Vance called it a "new era" for the Middle East.
Iranian state media tells a different story. Banners on state television read: "US was forced to sign an agreement to end the war" PBS. Meanwhile, Israel's government is reportedly alarmed. Prime Minister Netanyahu is said to fear the deal is a "dangerous compromise" that leaves Iran with too much room to rebuild Times of India. British Prime Minister Keir Starmer welcomed the news but warned that "Iran must never have a nuclear weapon" The Guardian.
Experts Warn the Deal Is Fragile and the Clock Is Ticking
Analysts at the Atlantic Council argue the U.S. achieved tactical wins but suffered a "strategic failure." They say Iran's leaders are now more convinced than ever that a nuclear deterrent is needed for survival. If nuclear talks fail within 60 days, the U.S. has not ruled out renewed military action Atlantic Council.
The Brookings Institution highlights that the war "degraded Asia's economic security" and warns the deal could still unravel if the conflict in Lebanon is not resolved Brookings Institution. Economists had estimated a continued war would cost the global economy up to $2.2 trillion in 2026 alone AP News. The next 60 days will determine whether this tentative peace holds.
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