In a post on Truth Social, Trump announced the completion of the deal.
“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 your engines. Let the oil flow! President DONALD J. TRUMP”, he wrote.
In another post, he went on to add that the deal will bring peace and security to the whole region. He also announced the opening of the Strait of Hormuz and the immediate lifting of the US naval blockade.
Pakistan Prime Minister Shehbaz Sharif wrote on “X” that the peace deal is reached following “intensive talks” and that both sides have declared the immediate and permanent termination of military operations on all fronts, including Lebanon.
He also went on to write that the official signing ceremony will take place in Switzerland on Friday, June 19, something that Trump also went on to confirm in his social media post.
However, an official statement from Iran is still awaited confirming the signing of the deal.
How Did Markets And Other Asset Classes React To US-Iran Deal?
US stock futures are surging on Trump’s announcement with the Dow futures surging nearly 350 points, while the Nasdaq futures are up nearly 450 points. Crude oil prices are down close to 5%, while precious metals like Gold and Silver are trading with gains between 2% to 3%.
The US Dollar index continues to trade around the 99.5 mark, while the 10-year bond yield is around the 4.5% level.
The US-Iran War
The US-Iran war, which also involved Israel and its attacks on Lebanon began towards the end of February and a ceasefire was reached on April 8.
Despite the ceasefire, there were exchanges of firing between the warring parties, threatening to derail the whole process.
Israel launched attacks on Lebanon on Sunday stating that it was in response to Hezbollah sending drones into Israeli territory, a move that prompted Trump to post that the parties are closing in on peace in the region and one must not “blow it up.”
