Historic Gulf Peace Pact Signed Amid Turbulence

A memorandum of understanding aiming to end the war in the Gulf has been signed by the United States and Iran, though tensions and uncertainties remain, particularly involving Israel and Hezbollah. The agreement promises economic relief and hopes to resolve the nuclear issue, with a focus on Lebanon's conflict.

The memorandum of understanding to end the Gulf war has already been signed by U.S. President Donald Trump, Vice President JD Vance, and Iran's parliamentary speaker, according to a U.S. official. Tehran has yet to respond, as reports suggested an official ceremony in Geneva was expected on Friday.

Despite the peace deal, Israel struck a car in southern Lebanon amid conflict with Hezbollah. Oil prices have declined due to the anticipated end of energy disruptions. The U.S. military has informed shippers the Iranian ports blockade remains, despite Trump's earlier statements.

The deal outlines reopening the Strait of Hormuz and a ceasefire during a 60-day negotiation. Ultimately, Iran might gain access to a $300 billion reconstruction fund if nuclear commitments are honored. Israeli officials have expressed strong disapproval of the agreement, fearing regional security threats.