&imwidth=800&imheight=600&format=webp&quality=medium "Hormuz to reopen and US blockade to be lifted immediately as US-Iran MoU takes effect")
The signing of the US-Iran memorandum of understanding to end the Middle East war will see Tehran "instantly" reopen the Strait of Hormuz and the United States "immediately" lift its blockade on Iranian ports, Pakistan Prime Minister Shehbaz Sharif said on Thursday.
In a post on X, Sharif said the memorandum had entered into force with immediate effect and outlined the initial steps both sides would take under the agreement.
"The Memorandum has been signed by honourable Presidents of both the countries and also endorsed by me as the mediator," Sharif wrote.
Sharif's remarks came shortly after US President Donald Trump and Iranian President Masoud Pezeshkian digitally signed a memorandum of understanding aimed at ending hostilities between the two countries and reducing tensions across West Asia.
The Pakistani prime minister said the signing of the agreement by the presidents of both countries reflected a clear commitment to resolving the conflict through diplomacy rather than military confrontation.
"The signing of this agreement at the highest level of the respective governments demonstrates the commitment of both sides to a diplomatic resolution of the conflict," he said.
Sharif also praised the efforts of negotiators and political leaders involved in the talks, thanking President Trump and members of the US negotiating team, including JD Vance, Steve Witkoff and Jared Kushner, for what he described as their invaluable contribution to securing the agreement.
On the Iranian side, he acknowledged the role played by Ayatollah Seyyed Mojtaba Hosseini Khamenei, President Masoud Pezeshkian and the Iranian negotiating team. He specifically mentioned Mohammad Bagher Ghalibaf, Abbas Araghchi and Eskandar Momeni, saying their patience, perseverance and commitment to constructive engagement were instrumental in bringing the agreement to completion.
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On the news of the US-Iran interim agreement signing, oil prices declined in early trading on Thursday, 18 June, as markets reacted to expectations of reduced tensions, reopening of the Strait of Hormuz and easing of US sanctions on Iranian oil exports.
The deal is expected to address one of the biggest disruptions to global energy supplies in recent history. Brent crude futures fell 89 cents, or 1.12 per cent, to $78.66 per barrel, while US West Texas Intermediate (WTI) crude declined 98 cents, or 1.28 per cent, to $75.81 per barrel.
According to the Pakistani prime minister, the signing marks the beginning of the next phase of the diplomatic process, with officials expected to focus on carrying out the provisions of the memorandum and overseeing the practical measures agreed upon by both sides.
