Trump secures peace deal with Iran as fuel prices poised to return to pre-war levels

International, Middle East

GENEVA, Switzerland (NPA) — United States President Donald Trump has announced a landmark agreement with Iran aimed at ending decades of hostility between the two countries and easing tensions across the Middle East.

In a statement posted on Truth Social, Trump declared that negotiations with the Islamic Republic had culminated in a comprehensive deal that would reopen critical global energy routes and pave the way for broader diplomatic engagement.

“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorise the toll-free opening of the Strait of Hormuz and authorise the immediate removal of the United States naval blockade. Ships of the world, start your engines. Let the oil flow!” Trump said.

The agreement, expected to be formally signed in Switzerland later this week, is being described as one of the most significant diplomatic breakthroughs in recent Middle East history.

Under the framework, both countries have agreed to an immediate ceasefire, while Iran is set to reopen the Strait of Hormuz, one of the world’s most strategic maritime corridors through which a significant portion of global oil supplies passes.

The United States, in turn, will begin lifting its naval blockade on Iranian ports, with full implementation expected within 30 days.

Marine traffic through the Strait will reportedly be coordinated by Iran and Oman to ensure the safe movement of international vessels.

As part of the agreement, Iran has pledged not to pursue nuclear weapons and will freeze uranium enrichment activities pending the conclusion of a broader nuclear accord. The United States will permit the supervised dilution of Iran’s enriched uranium stockpiles, although negotiations on inspection mechanisms and compliance procedures are ongoing.

The framework also includes major economic concessions. Washington is expected to grant temporary waivers on oil-related sanctions, allowing Iran to resume petroleum exports, while approximately $25 billion in frozen Iranian assets will be released through a combination of direct transfers and credit facilities.

A wider economic reconstruction and cooperation package is expected to be negotiated within the next 60 days.

Trump hailed the agreement as a historic achievement, arguing that previous administrations had failed to secure lasting peace with Tehran.

“This Great Deal will bring peace and security to the whole region. Many presidents have tried to make peace with Iran, and all have failed before me,” he said.

The President added that the agreement would restore stability to global energy markets and strengthen regional security.

Analysts say the accord could mark the most consequential diplomatic breakthrough between Washington and Tehran since the 2015 Iran nuclear agreement. However, significant challenges remain, including the finalisation of nuclear verification arrangements and the response of regional stakeholders who may view the deal with caution.

Newpost Africa reports that the agreement is also expected to have far-reaching implications for global oil markets, international trade routes, and geopolitical stability in the Gulf region.

Nigerians are anticipating a reduction in the pump price of petroleum to its pre-war level of N800 per litre. Similar adjustments are expected across other African economies, where sudden price disruptions have strained households and eroded company incomes, driving up the cost of goods and services in the wake of the war.

If successfully implemented, the deal could signal the beginning of a new chapter in relations between the United States and Iran, ending years of confrontation and opening the door to broader economic and diplomatic cooperation.