The United States and Iran have reached an initial agreement to end hostilities and reopen the Strait of Hormuz. According to Pakistani Prime Minister Shehbaz Sharif, both nations have declared the “immediate and permanent termination of military operations on all fronts,” including Lebanon. President Donald Trump announced the deal on social media, stating he authorized the “toll free opening of the Strait of Hormuz” and the “immediate removal of the United States Naval blockade.” While the full text of the memorandum of understanding has not been released, reports from Iranian state-affiliated media indicate it includes an end to the war, the withdrawal of U.S. Forces around Iran, and a reaffirmation by Iran to abstain from producing nuclear weapons. The agreement also reportedly includes the lifting of some oil and financial sanctions, as well as plans for reconstruction. A 60-day window is set to resolve outstanding issues regarding Iran’s nuclear program, enriched uranium stockpile, and the unfreezing of an estimated $24 billion in Iranian funds. The deal faces immediate hurdles regarding Israel’s role in the conflict. Defense Minister Israel Katz stated that Israel will not withdraw from land seized in Lebanon, Syria, or the Gaza Strip, planning to stay “indefinitely.” Prime Minister Benjamin Netanyahu also told President Trump that Israel does not consider itself obligated to follow the Lebanon-related parts of the U.S.-Iran deal and will continue responding to Hezbollah. National Security Minister Itamar Ben-Gvir stated the agreement “does not bind us” and emphasized that Israel is not subject to the United States. A signing ceremony is scheduled for Friday in Switzerland. Iran’s deputy foreign minister, Kazem Gharibabadi, confirmed the agreement but noted that implementation would not begin until the signing. Various international leaders, including those from China, France, and the United Kingdom, have welcomed the announcement as a step toward restoring freedom of navigation and stabilizing global markets.