Pakistan announced that the United States and Iran have reached an agreement to end the war and reopen the Strait of Hormuz, bringing relief to the global economy.
A formal signing ceremony is scheduled for Friday in Switzerland, but it remains unclear when the waterway will fully reopen.
US President Donald Trump confirmed the deal, saying he had authorized an end to the US naval blockade of Iranian ports in the Strait of Hormuz.
The agreement largely restores the status quo before the war, which left thousands dead and gave Iran a new source of leverage through its ability to influence transit through the Strait of Hormuz.
The waterway is vital for global shipments of oil, natural gas, and related products, and its effective closure sent shockwaves through the world economy.
