United States and Iran reach agreement to end Middle East war, signing ceremony set for Friday in Geneva
via Business News4 min read
After weeks of negotiations, the United States and Iran reached an agreement on Monday to immediately end the war in the Middle East, including in Lebanon. A signing ceremony is scheduled for Friday in Geneva. Pakistani Prime Minister Shehbaz Sharif, a key mediator, first announced the agreement. US President Donald Trump confirmed the finalization of the agreement with the Islamic Republic of Iran on his Truth Social network. Trump stated he is authorizing the full reopening of the Strait of Hormuz without transit fees and the immediate lifting of the US naval blockade, allowing oil to flow freely once the agreement is signed on Friday to permit demining. The announcement led to a 4.50% drop in oil prices, which had surged since the war began on February 28 and the strategic strait was blocked. Stock markets in Tokyo and Seoul closed with approximately 5% gains. The document agreed upon by Washington and Tehran has not yet been made public. Itamar Ben Gvir, Israeli National Security Minister, stated that "Trump's agreement does not bind us" and called for intensified military operations in Lebanon. Israeli Prime Minister Benjamin Netanyahu has not yet reacted. In Tehran, an 18-year-old vendor expressed hope for the main agreement to be signed and sanctions lifted for the economy to restart and the region to find peace. However, a 31-year-old bank employee expressed dissatisfaction, stating that the people are unhappy because Iranians, including innocent children, are being k
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