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Jun 18, 2026
Analyzed by Llama- 4 Scout 17B 16E Instruct

Iran and US Reach Tentative Deal to End Conflict

AI Summary
The US and Iran have reached a tentative deal to end the conflict and resume traffic through the Strait of Hormuz. The deal, which was announced by US President Donald Trump and Iran's Deputy Foreign Minister Kazem Gharibabadi, allows for toll-free shipping through the Strait of Hormuz and the release of $12bn in frozen assets to Iran.

The Tentative Deal

United States President Donald Trump and Iran's Deputy Foreign Minister Kazem Gharibabadi said on Sunday that they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.

Trump said the deal allows for toll-free shipping through the Strait of Hormuz, which has been largely closed since the US and Israel launched an assault on Iran on February 28.

Key Terms of the Agreement

  • The content of the agreement, which follows weeks of fraught negotiations and periodic threats from Trump of new hostilities unless Iran reaches a deal, remained unclear.
  • Strait of Hormuz to reopen: Iran's semi-official Mehr news agency said the draft deal called for reopening the Strait of Hormuz within 30 days under Iranian arrangements.
  • Frozen assets to be released: Iran's Mehr news agency reported that the US would release $12bn in frozen assets to Iran before the start of negotiations.
  • Iran's enriched uranium: In an interview with The New York Times on Sunday, Trump said Washington was still negotiating whether Iran would suspend its enrichment for 20 years.

Global Response

  • Western leaders praise deal: UK Prime Minister Keir Starmer said he was ready to aid the further technical talks between the US and Iran, adding that he hopes the reopening of the Strait of Hormuz will stabilise energy markets.
  • French President Emmanuel Macron also praised the deal and said Paris would support the Lebanese government.
  • European Union chief Antonio Costa welcomed a deal between the US and Iran to end the Middle East war, adding that the bloc was ready to contribute to a strategy for 'lasting peace'.
  • UN Secretary-General Antonio Guterres said it was a 'critical step' towards resolving the war in the Middle East.

Economic Impact

  • Oil prices drop: Oil prices slipped to their lowest since March on Monday, with global benchmark Brent crude futures falling $4.08, or 4.7 percent, to $83.25 a barrel by 04:15 GMT.
  • Asian markets soar: Markets in Japan soared, more than 5 percent up; in South Korea, they were up 5.3 percent; in Taiwan, they were up 2.4 percent.