United States and Iran Reach Breakthrough Peace Agreement to Reopen Strait of Hormuz
President Donald Trump and the Iranian government announced a memorandum of understanding on June 15, 2026, aimed at ending over three months of active warfare that began in February. The deal includes an immediate ceasefire and the reopening of the Strait of Hormuz to global oil traffic. The agreement is scheduled for a formal signing in Switzerland this coming Friday, potentially easing the global energy crisis sparked by the conflict's blockades and naval engagements.