US-Iran Agreement Brought Forward: Pakistani Prime Minister Confirms US-Iran Agreement Has Taken Effect Immediately, Strait of Hormuz Will Reopen Immediately

TradingKey - On Wednesday Eastern Time, U.S. media outlet Axios, citing two U.S. officials, reported that the United States and Iran have remotely signed a memorandum of understanding (MOU) aimed at ending the war and reopening the Strait of Hormuz, with the agreement now in effect.

The agreement was originally scheduled to be signed in Switzerland on Friday, but Axios, citing a diplomat from a mediating country and another person familiar with the matter, reported that an earlier signing and implementation of the agreement had also been previously discussed. Diplomatic sources said the two sides discussed accelerating the timeline, with the goal of reopening the strait before Friday.

Pakistani Prime Minister Shehbaz Sharif stated on X that leaders of the U.S. and Iran have signed a memorandum of understanding, noting that "as a first step, Iran will immediately reopen the Strait of Hormuz, and the U.S. will immediately lift the maritime blockade."

Sources said Friday's meeting will proceed as planned, during which delegations led by U.S. Vice President Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf will hold talks in Switzerland.