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US-Iran Agreement Brought Forward: Pakistani Prime Minister Confirms US-Iran Agreement Has Taken Effect Immediately, Strait of Hormuz Will Reopen Immediately

TradingKey

AuthorJane Zhang

Jun 18, 2026 1:23 AM

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On Wednesday Eastern Time, reports confirmed that the United States and Iran have signed a memorandum of understanding to end hostilities and reopen the Strait of Hormuz. The agreement, effective immediately, mandates the lifting of the U.S. maritime blockade in exchange for the reopening of the vital waterway. While officials accelerated the implementation timeline ahead of a scheduled Friday summit in Switzerland, diplomatic delegations led by U.S. Vice President Vance and Iranian Speaker Mohammad Bagher Ghalibaf are still expected to convene to discuss further de-escalation measures and the formalization of these security commitments.

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TradingKey - On Wednesday Eastern Time, U.S. media outlet Axios, citing two U.S. officials, reported that the United States and Iran have remotely signed a memorandum of understanding (MOU) aimed at ending the war and reopening the Strait of Hormuz, with the agreement now in effect.

The agreement was originally scheduled to be signed in Switzerland on Friday, but Axios, citing a diplomat from a mediating country and another person familiar with the matter, reported that an earlier signing and implementation of the agreement had also been previously discussed. Diplomatic sources said the two sides discussed accelerating the timeline, with the goal of reopening the strait before Friday.

Pakistani Prime Minister Shehbaz Sharif stated on X that leaders of the U.S. and Iran have signed a memorandum of understanding, noting that "as a first step, Iran will immediately reopen the Strait of Hormuz, and the U.S. will immediately lift the maritime blockade."

Sources said Friday's meeting will proceed as planned, during which delegations led by U.S. Vice President Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf will hold talks in Switzerland.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.

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