US, Iran Agree Preliminary Deal to End Conflict

Tashkent, Uzbekistan (UzDaily.com) — The United States and Iran have announced a preliminary framework agreement aimed at ending an armed conflict and restoring free navigation through the Strait of Hormuz. The development was described as the most significant breakthrough in efforts to resolve a crisis that began in February following joint military strikes by the United States and Israel.

The conflict resulted in multiple casualties and disrupted international energy markets, with indirect effects on macroeconomic stability in Central Asian countries.

An official memorandum of understanding is scheduled to be signed on Friday in Switzerland.

U.S. President Donald Trump was the first to announce the completion of the deal. Almost simultaneously, Pakistan Prime Minister Shehbaz Sharif, whose country acted as a mediator in the talks, confirmed the agreement.

According to Sharif, the document establishes an immediate and permanent cessation of hostilities across all operational fronts, including Lebanese territory. The secretariat of Iran’s Supreme National Security Council also confirmed the cessation of military operations.

Full and precise terms of the agreement have not been disclosed. A key unresolved issue remains Iran’s nuclear program, which has been deferred to subsequent rounds of talks.

Despite the announced deal, significant disagreements remain in the region. Israeli Defense Minister Israel Katz said Israeli forces will remain in designated security zones in Lebanon, Syria and the Gaza Strip indefinitely to protect national borders. He added that Israel would respond with full force if Iran launches an attack.

Iranian Deputy Foreign Minister Kazem Garibabadi said the parameters of a comprehensive agreement, including potential easing of sanctions, would be discussed during a 60-day ceasefire period.

The diplomatic breakthrough had an immediate impact on global markets. Following U.S. statements about reopening the Strait of Hormuz and lifting restrictions on Iranian ports, Brent crude prices fell by 4% in early trading, while Asian stock markets rose.

The easing of volatility in global energy markets typically supports more predictable budget planning for energy-importing countries, including Uzbekistan. Analysts noted that uncertainty over details of the agreement remains, but market sentiment has turned positive.

The initiative has received broad international support. European Union foreign policy chief Kaya Kallas called the agreement a potential breakthrough and expressed readiness for the EU to support long-term settlement efforts. The United Kingdom, Germany, France and Italy issued a joint statement signaling readiness to ease economic sanctions on Iran, conditional on verifiable limits to its nuclear program.

Reuters sources reported that talks included discussion of unfreezing Iranian assets in the United States worth US$25 billion. The U.S. side is seeking a full dismantling of Iran’s nuclear program, while Tehran insists its nuclear activities are for peaceful purposes and proposes limiting enrichment to domestic processing.