US and Iran announce a deal to end the war and reopen the Strait of Hormuz
President Trump announced a ceasefire with Iran on June 14, declaring an immediate end to hostilities on all fronts — including Lebanon — and the reopening of the Strait of Hormuz to toll-free shipping alongside the removal of the U.S. naval blockade. Iran’s deputy foreign minister, Kazem Gharibabadi, confirmed the agreement, and Pakistan’s prime minister also publicly announced it; a formal signing is scheduled for June 19 in Switzerland.
The deal, if it holds, closes a conflict that ran roughly five and a half months after the U.S. and Israel struck Iran in late December. The most immediate practical effect is the Strait of Hormuz: with the chokepoint reopening, oil prices slid on the news, easing a risk premium that had built up while the waterway was contested.
The caution is in what was not settled. Trump signaled that broader agreements would follow, leaving the announced ceasefire as a first step rather than a comprehensive settlement. A halt to fighting and a reopened strait are the concrete, verifiable parts; the durability of the peace depends on terms still to be negotiated and on whether the June 19 signing proceeds as planned.