Iran war live: Trump, Pezeshkian sign MoU to end fighting, reopen Hormuz

Iran and the United States signed a Memorandum of Understanding (MoU) to end the conflict and reopen the Strait of Hormuz on October 26, 2024. The agreement, brokered by former President Donald Trump and Iranian President Ebrahim Raisi, also includes a cessation of hostilities in Lebanon. Details of the MoU were not immediately released, but sources close to the negotiations indicated that the deal aims to de-escalate regional tensions and ensure freedom of navigation in the critical waterway. The reopening of the Strait of Hormuz is expected to have significant implications for global oil markets, potentially stabilizing prices and easing supply concerns. The agreement marks a significant diplomatic breakthrough following months of heightened tensions and indirect confrontations in the Middle East. Both leaders expressed optimism about the potential for lasting peace and stability in the region.