US, Iran Reach Peace Deal, Set Stage for Fresh Nuclear Talks

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The United States and Iran have reached a peace agreement aimed at ending hostilities in the Middle East and reopening key global oil shipping routes, according to reports.

The two countries reportedly finalized a memorandum of understanding overnight, with the agreement scheduled to be formally signed in Switzerland on Friday.

Under the deal, the United States is expected to lift its blockade of Iranian ports, while Iran will facilitate the reopening of the Strait of Hormuz, a critical maritime route for global oil exports. The waterway is expected to reopen on Friday after reported efforts to clear Iranian mines from the area.

Despite the breakthrough, details of the agreement have not yet been made public, raising questions about unresolved issues, particularly Iran’s nuclear programme. Discussions over Tehran’s stockpile of enriched uranium have been deferred to a second round of negotiations expected to begin after the signing ceremony in Geneva.

Speaking to The New York Times, US President Donald Trump indicated that Iran may be allowed to enrich uranium up to a specified level, a proposal Tehran had previously offered before negotiations collapsed earlier this year.

Trump also suggested that the removal of Iran’s existing stockpile of enriched uranium would take place over the coming months, describing the process as non-urgent.

The US president warned that Washington could resume military action if future nuclear negotiations fail, while also stating that the United States would seek a greater role in regional security arrangements.

Trump credited Chinese President Xi Jinping and Russian President Vladimir Putin for assisting efforts that led to the agreement.

Announcing the deal on his Truth Social platform, Trump declared: “Ships of the World, start your engines. Let the oil flow!”

The development had an immediate impact on global markets, with oil prices reportedly falling by about four per cent in early trading, reaching their lowest level since March.

The agreement is expected to mark the beginning of broader diplomatic efforts aimed at addressing longstanding tensions between Washington and Tehran while restoring stability to global energy markets.