Pakistan to Host US-Iran Peace Deal Event in Geneva, Sharif Says

Pakistan is set to host a pivotal event in Geneva this Friday to formally mark a landmark US-Iran peace deal, as announced by Prime Minister Shehbaz Sharif, who lauded Army Chief Asim Munir for his 'extraordinary role' in brokering an agreement that ends a months-long conflict. The diplomatic breakthrough, confirmed by US President Donald Trump, aims to de-escalate tensions that had threatened to destabilize the global economy and marks a significant shift in regional dynamics after a period of intense hostilities. This preliminary accord, structured as a Memorandum of Understanding (MOU), is designed to immediately cease all military operations, including in Lebanon, and facilitate the reopening of the strategically vital Strait of Hormuz to commercial shipping, which had been under a US naval blockade. A crucial element involves the US releasing $25 billion in frozen Iranian assets, while Iran agrees to a 60-day ceasefire during which negotiations on its contentious nuclear program will proceed. The deal, however, faces scrutiny, particularly from Israeli leaders who have voiced criticism, complicating the fragile path to comprehensive peace. The formal signing of this framework agreement is slated for June 19 in Switzerland, an event that will trigger the 60-day period for intensive follow-up discussions on Iran's nuclear ambitions and missile capabilities. While oil prices reacted positively, falling over four percent on news of the Strait of Hormuz reopening, the true test lies in the intricate negotiations ahead, with the international community closely watching whether this initial breakthrough can translate into a lasting resolution for one of the world's most volatile regions.