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US and Iran Set to Sign Peace Deal on June 19, Hormuz to Reopen
The Hindu·Monday, 15 June 2026
The US and Iran have agreed to a peace deal expected to be signed on June 19, with Trump announcing the Strait of Hormuz will open on Friday. A 14-point draft agreement reportedly includes an immediate end to military operations, lifting of sanctions on Iranian oil exports, and a $300 billion reconstruction package. The deal also addresses a Lebanon ceasefire, though Israel has said it will not withdraw from Lebanon.
Why It Matters
The Strait of Hormuz is one of the world's most critical oil shipping routes — its reopening directly affects global oil prices and energy costs everywhere, including India.
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