US and Iran confirm agreement, to be formally signed in Switzerland on the 19th

On the 14th, U.S. President Trump posted on social media that the U.S.-Iran agreement is “now complete” and will open the Strait of Hormuz. Trump said that he has formally approved the opening of the Strait of Hormuz without any toll fees, and ordered the immediate lifting of the U.S. Navy’s maritime blockade on Iranian ports.

Iranian media reported on the 15th that early that morning Iran’s Supreme National Security Council issued a statement, officially confirming that a memorandum of understanding on a ceasefire between Iran and the United States had been reached.

According to reports from Iran’s Tasnim News Agency in the early hours of the 15th, Iranian Deputy Foreign Minister Gharibabadi confirmed that the text of the U.S.-Iran memorandum of understanding has been finalized, and that the official signing ceremony for the “Islamabad Memorandum” will be held in Switzerland on the 19th.

On the 15th, Pakistani Prime Minister Shehbaz Sharif posted on social media that after intensive consultations, the United States and Iran have reached a peace agreement.

Shehbaz said that the two sides announced an immediate and permanent cessation of military operations across all fronts, including Lebanon, and that the official signing ceremony will be held in Switzerland on the 19th.

Reactions from the international community

In a statement issued on the 14th, a spokesperson for the United Nations Secretary-General said that Secretary-General António Guterres welcomes the consensus reached by the United States and Iran on the peace agreement.

According to international media reports on the 14th, the United Kingdom, France, Germany, and Italy issued a joint statement saying that, following the agreement between the United States and Iran to end the war, the parties are prepared to remove sanctions related to Iran in exchange for Iran taking steps on its nuclear program.

As the United States and Iran confirmed that an agreement had been reached and that the Strait of Hormuz is expected to reopen soon, international crude oil futures prices fell sharply after the start of trading for the new week on the 14th.

As of 6:15 p.m. Eastern Time on the 14th, the price of light crude oil futures for July delivery on the New York Mercantile Exchange hit a low of $80.25 per barrel, down 5.45%. The price of London Brent crude oil futures for August delivery at one point fell to $83.51 per barrel, down 4.37%. (Reporters: Xu Jianmei, Huang Qiang, Chen Xiao, Lin Jianjie, Yang Kai, Tang Binqi, Pan Yunzhao, Wang Ying; Video: Zhou Xiaotian, Sun Shuo)

(Editor: Wen Jing)

Keywords: