The US and Iran have reached a breakthrough framework agreement to end their four-month-long war, marking a major step toward peace.
An in-person signing ceremony is scheduled for June 19, 2026, in Switzerland.
The deal includes a possible $300 billion reconstruction fund to help rebuild Iran after the war, but the exact details are unclear.
The Iranian news agency says the US and its allies would be responsible for paying into the fund to repair war damage.
However, Reuters reports that the deal may involve a broader economic development plan for Iran, with final details expected during a 60-day negotiation period.
The draft deal also includes the possible release of $24 billion in frozen Iranian assets, with $12 billion possibly unlocked before negotiations begin.
US President Donald Trump announced that commercial shipping will resume freely through the Strait of Hormuz, which handles about 20% of global oil flow.
