U.S., Iran Reach Deal to End War, Reopen Hormuz
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- Donald Trump and senior Iranian officials announced a memorandum of understanding to end the war that began Feb. 28 when the U.S. and Israel struck Iran, with formal signing set for Friday in Switzerland.
- Pakistani PM Shehbaz Sharif declared "immediate and permanent termination of military operations on all fronts, including in Lebanon," folding the Israel-Hezbollah conflict into the ceasefire — a key Iranian demand.
- The deal reopens the Strait of Hormuz — the pre-war route for 20% of the world's crude oil — ending both Iranian attacks on shipping and the U.S. naval blockade, with Trump announcing a "toll-free" passage.
- Iran's nuclear program is deferred to 60 days of technical talks, though Sen. Lindsey Graham noted any final deal must go to Congress for review and a vote, and analyst Karim Sadjadpour said he is "not terribly optimistic" it resolves in that window.
- Iran is pushing for half of its $24 billion US in frozen assets released before detailed talks continue, a U.S. $300-billion reconstruction plan, and the lifting of oil and petrochemical sanctions, per state-linked Mehr News Agency.
- Hezbollah-Israel skirmishes in southern Lebanon, where Israel currently occupies roughly 15% of territory, are the most likely trigger to derail the agreement, Georgetown's Nader Hashemi told CBC.
- U.K., France, Germany and Italy jointly said they are prepared to lift "relevant sanctions" against Iran if it takes "clear, verifiable steps" toward ending its nuclear program.
Why it matters: The deal unwinds a multi-front war and reopens a waterway carrying 20% of the world's crude oil, easing the oil and fuel price spikes that followed Iran's closure. But the most consequential issues — Iran's nuclear program, Israel's 15% occupation of Lebanon, and Iran's $300-billion reconstruction ask — are kicked down the road for 60 days of talks that one senior analyst doubts can resolve them.
