US-Iran interim deal extends ceasefire 60 days, reopens Hormuz
What's next: negotiators are due in Geneva on June 19 to tackle harder issues, including Iran's nuclear program and a lasting truce.
A US-Iran interim agreement would extend the fragile ceasefire in their war by 60 days and reopen the Strait of Hormuz, though key terms remain unpublished and a permanent settlement is still unresolved. President Donald Trump said June 16 the deal was complete and moving to a second phase. Iranian Foreign Minister Abbas Araqchi said talks on the next stage would begin in Switzerland on June 19 after a formal signing of the framework deal. The next round is expected to address the future of Iran's nuclear program, while Iran-backed proxies and Tehran's missile program are not thought to be on the agenda. Oil prices fell to three-month lows after news of the deal, but shipowners said confidence in Hormuz could take weeks to recover.