United States and Iran Announce Framework for 60-Day Ceasefire
President Donald Trump and Iranian officials announced a preliminary memorandum of understanding to halt hostilities in Operation Epic Fury. The deal, mediated by Pakistan, includes a 60-day ceasefire and the immediate reopening of the Strait of Hormuz. Trump authorized the removal of the U.S. naval blockade on Iranian ports, leading to a 5% plunge in global crude prices. A formal signing ceremony is scheduled for June 19 in Geneva, Switzerland.