Let the oil flow, Trump announces lifting of US naval blockade

The United States and Iran agreed to a peace deal and an "immediate and permanent" end to military operations on all fronts including Lebanon, signaling the apparent end to more than three months of war in Middle East. 

The initial announcement from mediator Pakistan was quickly confirmed by Washington and Tehran, and an official signing ceremony was scheduled for June 19 in Switzerland.

"The Deal with the Islamic Republic of Iran is now complete," US President Donald Trump posted Sunday on social media as he marked his 80th birthday.

"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.

"Ships of the World, start your engines. Let the oil flow!"

The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! 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. Ships of the World, start…

— Commentary Donald J. Trump Posts from Truth Social (@DonaldTrumpNat) June 14, 2026

Soon after, Iran's Deputy Foreign Minister Kazem Gharibabadi said in televised comments that the deal put an "immediate end" to the countries' war and that they would hold talks within two months to seek a "final agreement."

Just hours earlier, Tehran had vowed to retaliate against a strike by Israel against Iranian ally Hezbollah in the suburbs of Beirut which threatened to push back an agreement.

But later in the day, Pakistani Prime Minister Shehbaz Sharif made the announcement: "Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon."

He added thanks to leaders of Qatar, Saudi Arabia and Turkey for their support in the mediation effort.

???????????????? EXPECTED TERMS OF US-IRAN PEACE DEAL:

60-day ceasefire between the United States and Iran

60-day negotiation period on Iran’s nuclear program

Removal of the US naval blockade and reopening of the Strait of Hormuz

Discussions on sanctions relief for Iran

…

— Commentary Donald J. Trump Truth Social Posts On X (@TrumpTruthOnX) June 14, 2026

- Details remain unclear -
The content of the agreement, which follows weeks of fraught negotiations and periodic threats from Trump of fresh hostilities unless Iran reached a deal, remained unclear.

Iran's Mehr news agency reported that the US will release $12 billion in frozen assets to Iran before the start of negotiations.

It quoted a 14-point "memorandum of understanding" between the two nations, which it said stipulated "the release of 24 billion dollars in frozen Iranian assets during the 60‑day negotiation period" that begins after the MoU is signed.

The Trump administration did immediately comment on the details of the agreement, which may prove contentious as the US presses its effort to end Tehran's nuclear ambitions and deal with its stockpile of highly enriched uranium -- believed to have been buried by US strikes last year.

- 'Seize the moment' -
The announcement of the deal was greeted with international relief and hope for an enduring end to the conflict.

UN Secretary-General Antonio Guterres said it was a "critical step" toward resolving the war in the Middle East.

The United Kingdom, France, Germany and Italy said they were prepared to lift sanctions imposed on Iran and will work "with the US, Iran and regional partners to seize this moment, maintain momentum and achieve a long-term diplomatic settlement."

The announcement also brought relief at market opening on Monday. Oil prices plunged more than four percent in Tokyo, and Japan's Nikkei stock index jumped three percent.

The blockade of the Strait of Hormuz has had a worldwide economic impact, from inflated gas prices that have fueled inflation in the US and many other countries and congested supply chains for goods like fertilizer key to food production in areas far beyond the Middle East.

"What we're going to be able to do is drive down the cost of energy, not just now but for the long term, and create a real engine of prosperity in the Middle East," US Vice President JD Vance told Fox News.

He said that he planned to attend the signing of the peace deal, which was slated to take place in Geneva, and that it was possible Trump could also go.

- Israeli strike -
It was a rollercoaster Sunday, with Trump in the morning angrily blaming Israel for delaying its signing with the airstrike on Beirut, which he said had delayed the agreement.

In an expletive-laden phone interview with US news outlet Axios, Trump had fumed about Israeli Prime Minister Benjamin Netanyahu, saying: "I was so pissed off. I let him know."

The last time Israel hit the Beirut suburbs, it sparked one of the strongest jolts yet to a ceasefire that has largely held since April, with Iran firing off a retaliatory missile barrage and Israel responding with strikes.

Tehran has long demanded that any agreement to halt the war must include the parallel conflict in Lebanon, where Israel has been pursuing a campaign against Iran-backed Hezbollah.

The war began in late February, with US-Israeli strikes on Iran, which retaliated with attacks on Israel and US allies in the region, and by virtually blocking ship traffic in the Strait of Hormuz, a vital route for global oil and natural gas supplies.

The US retaliated by blockading ship traffic to Iranian ports.

During negotiations, the warring parties have released conflicting information about the contents of the deal, as each seeks to show it emerged from the war with the upper hand.

Tehran had insisted it will maintain control over the vital strait, but the US repeatedly said this would be unacceptable.

Trump said Sunday the sea passage would open after the ceremony in Switzerland.

Vance says Trump may travel to Geneva

US Vice President JD Vance said Sunday he planned to attend the signing of an Iran peace deal in Switzerland in a few days, but that President Donald Trump might go.

"I certainly plan to be there, but it's possible the president himself could be there," Vance told Fox News when asked if he'd be at the ceremony, which mediator Pakistan said would take place in Geneva on June 19.

Hormuz maritime fees ‘added’ to US deal last minute

Iran's Fars news agency said on Monday, quoting what it said was an informed source, that Tehran added a clause on imposing maritime service fees to the framework deal with the United States shortly before its announcement.

"In the final moments of the negotiations, the text of the memorandum of understanding was amended to clearly and explicitly emphasise the issue of the Iranian-Omani sovereignty over the Strait of Hormuz," said Fars, citing the unidentified source.

"The use of the term 'maritime services' means that the United States has accepted that fees will be paid to Iran," it added.