ISLAMABAD — The United States and Iran have crafted a preliminary accord aimed at reopening the crucial Strait of Hormuz and extending a fragile truce in the ongoing conflict involving Iran. This development could pave the way for much-needed oil and natural gas to re-enter the global markets.
While specifics of the agreement remain under wraps, Iran has indicated that implementation will only proceed post-signing, scheduled to occur on Friday in Switzerland, according to key mediator Pakistan.
The understanding, however, is already encountering significant hurdles. Ongoing hostilities between Israel and the Iranian-supported Hezbollah in Lebanon—highlighted by Israeli airstrikes on Beirut’s southern suburbs on Sunday—almost scuttled the talks.
The agreement also sets a 60-day timeline to address Iran’s accumulation of highly enriched uranium and its nuclear ambitions, an issue that consumed years of negotiation leading to the 2015 nuclear agreement with global powers. Former U.S. President Donald Trump’s withdrawal from that accord during his first term escalated tensions that eventually led to the current conflict.
In celebration of the agreement and his 80th birthday, Trump took to social media to express his elation, marking the day with a UFC event at the White House.
He added, “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,” which was imposed in retaliation for Iran’s grip on the crucial waterway.
He soon hedged, however, saying the strait wouldn’t open until Friday’s signing.
Iran’s deputy foreign minister, Kazem Gharibabadi, confirmed the agreement on state television but said Iran would not start implementing it until it was signed Friday. He said the deal followed talks with Qatar, another mediator.
Israel, which has insisted it be allowed a freehand to pursue Hezbollah as it occupies southern Lebanon and has extended its military operations into areas its forces haven’t been in a quarter century, did not immediately comment. Israel joined the U.S. in launching the war on Feb. 28.
Benchmark Brent crude oil fell more than $3 a barrel on the news as Asian stock markets rallied.
Pakistan, a key mediator, announces deal
Pakistan first announced the deal, with Prime Minister Shehbaz Sharif saying “both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.” He added that mediators this week will facilitate meetings to “lay the foundation for the technical talks.”
Broader negotiations on outstanding issues like Iran’s nuclear program would continue over the next 60 days, two senior Pakistani officials said earlier Sunday, speaking on condition of anonymity because they were not authorized to discuss the matter publicly. If the sides fail to reach a resolution within that time, the timeline could be extended.
Iranian state television cited the secretariat of the Supreme National Security Council saying the war on all fronts “will end immediately and permanently beginning tonight” – but that the U.S. blockade “will be terminated immediately and in full.”
Qatari mediators later left Tehran following 17 hours of negotiations, said an official briefed on the developments who spoke on condition of anonymity due to sensitivity of the talks. Separate preparatory meetings with each side will take place in Doha this week, the official said.
It was not clear who from Iran would sign the deal on Friday. U.S. Vice President JD Vance told Fox News the White House was still figuring out who would attend: “I certainly plan to be there, but it’s possible the president himself could be there.”
But concern among Republicans in the U.S. already could be seen. They included U.S. Sen. Lindsey Graham of South Carolina, who described Vance as “the architect of the deal.”
“I am somewhat concerned that Iran’s view of the agreement seems different than what the American negotiating team is claiming,” Graham wrote online.
Interim deal faces intense scrutiny
The first strike of the war killed Iran’s supreme leader, Ayatollah Ali Khamenei, and Khamenei’s son, Ayatollah Mojtaba Khamenei, is now supreme leader. He has not been seen in the public since the war began, but his approval was needed for Iran to sign off on the deal.
There was apparent friction inside Iran in the hours before the announcement, as the government warned that division at home over the deal weakened its negotiating position.
The deal likely returns the region to a status that existed before the war, but with thousands of people dead and Iran wielding a new source of negotiating pressure with its ability to influence shipping in the strait. The waterway is crucial to significant shipments of oil, natural gas and related products like fertilizer, and its effective closure rocked the global economy.
Even with a deal, it will take months for oil and gas supplies to flow freely enough for the world’s needs to be met because shipping and insurance companies want to be confident the agreement will last, energy experts said.
Tehran also still has a ballistic missile arsenal and enough highly enriched uranium to build several nuclear weapons, should it choose to pursue them.
Iran has long maintained its nuclear program is peaceful and has not publicly committed to giving up the enriched uranium, which is believed to be buried under three nuclear sites that were badly damaged by U.S. strikes last year.
The U.S. has sought the removal of the enriched uranium from Iran as part of a deal. Russia has offered to take it. But Iran insists it wants to keep the uranium.
Frankel reported from Jerusalem, Sewell from Beirut and Weissert from Washington. Associated Press writers Melanie Lidman in Tel Aviv, Israel, Cathy Bussewitz in New York and Cara Anna in Lowville, New York, contributed.
Copyright © 2026 by The Associated Press. All Rights Reserved.