Middle East crisis live: Tehran says it will charge ships in strait of Hormuz after 60 days; US-Iran presidents sign peace deal

The presidents of the United States and Iran signed a peace deal and a memorandum of understanding extending a truce on June 18, 2026. Pakistani Prime Minister Shehbaz Sharif announced that the agreement would take immediate effect, with the Islamic Republic of Iran instantly reopening the Strait of Hormuz and the United States immediately lifting the naval blockade. A chief Iranian negotiator stated that the key waterway would not return to pre-war conditions after a 60-day window, implying potential tolls or charges for ships transiting the strait. This development follows a period of heightened tensions and naval blockades in the region. Reactions to the deal, particularly concerning its implications for regional stability and the US's role, were varied, with some expressing anger, relief, and incredulity, as noted in analyses suggesting the deal stemmed from unrealistic ambitions for an untenable war.