US President Donald Trump announced a peace deal with Iran, agreeing to extend a ceasefire for 60 days during nuclear talks. The deal includes ending blockades, though Israeli strikes in Lebanon have complicated the situation.
US President Donald Trump called on ships of the world to start their engines and let the oil flow as he announced on Sunday that the United States and Iran had agreed to a peace deal.
The agreement, which will extend the ceasefire for 60 days amid ongoing nuclear talks, was confirmed by the US president on social media. According to a statement from Sharif, a key mediator in the peace talks, both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.
Iran has yet to officially confirm the agreement, but the New York Times reported that Iran has called off retaliatory attacks against Israel following deadly strikes in Lebanon on Sunday. The strikes hit the suburb of Dahiya in Beirut's southern outskirts, killing three people and injuring 16. The Israeli military said it had targeted Hezbollah infrastructure sites, accusing Hezbollah of firing drones and rockets into Israel.
The latest deal, mediated by Qatari officials, could be finalised and signed as early as Sunday or Monday in Australia. The respective blockades will remain in place until the signing ceremony. The deal would see the US end a blockade on Iranian ports, while Iran would ease its blockade of the Strait of Hormuz. The Strait of Hormuz is a critical chokepoint for global oil supplies, and any disruption there can cause significant volatility in energy markets.
Trump has a track record of touting imminent peace deals, and this announcement comes amid heightened tensions between Iran and Israel. The Israeli strikes on Sunday were the latest in a series of exchanges that have threatened to escalate into a broader regional conflict. Hezbollah, the Iran-backed militant group based in Lebanon, has been involved in cross-border attacks with Israel, further complicating the peace process.
Trump had earlier insisted the deal with Iran was still on the table following the strikes, claiming on social media on Sunday that the attacks should not have happened. He wrote that the morning's attack on Beirut should not have occurred, particularly on a special day when they were so close to a peace deal with Iran. Trump reportedly told a journalist he was so pissed off about the latest Israeli strikes, according to Axios.
The US president's frustration underscores the delicate nature of the negotiations. The deal, if finalized, would represent a major diplomatic achievement for Trump, who has sought to reduce US military commitments abroad and broker peace in the Middle East.
However, the involvement of multiple actors with conflicting interests, including Israel and Hezbollah, poses significant challenges. Iran's foreign ministry spokesperson Esmail Bagheasi said the deal could be signed in the coming days, but no official confirmation has been provided by Tehran. The nuclear talks, which are central to the broader agreement, aim to curb Iran's nuclear program in exchange for sanctions relief. The extension of the ceasefire provides a window for these negotiations to continue.
The potential peace deal has implications far beyond the immediate region. Global oil markets are watching closely, as any resolution could lead to increased supply and lower prices. The US blockade on Iranian ports has restricted Iran's oil exports, while Iran's threat to block the Strait of Hormuz has kept markets on edge. An agreement would likely boost global economic stability.
On the other hand, the persistent violence in Lebanon and the lack of trust between the parties mean that the deal could collapse at any moment. The coming days will be critical as mediators work to finalise the text and secure signatures. The world awaits the outcome, with hopes for a lasting peace but awareness of the many obstacles that remain
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