Agreement Reached Between US and Iran on 14-Point Interim Deal

18-Jun-2026 07:58 PM

Geneva: An agreement has been reached between the US and Iran on a 14-point interim deal, and the presidents of both nations have signed the agreement documents.

Both countries may engage in dialogue and monitor each other's activities over the next 60 days. If the situation remains normal, Iran could be granted significant further concessions.

The US President has stated that the Strait of Hormuz is now fully open for the movement of ships and that no toll tax will be levied on any vessel there for the next 60 days.

Thereafter, the strait will be jointly managed by Iran and Oman. Meanwhile, Iran maintains that traffic through the Strait of Hormuz will no longer be as free or unrestricted as before and that it will retain control over the waterway.

This implies that after two months, ships and tankers might be required to pay a toll tax, although certain friendly nations could be granted concessions. Global crude oil prices have dropped significantly following the peace agreement.