Official signing of the US-Iran peace accord is scheduled for Friday.

Washington, June 15: The 107-day war between the US and Iran is finally coming to an end. US President Donald Trump has announced that the two countries have finalized a peace deal. The formal signing of the deal is scheduled for Friday (June 19) in Switzerland.

The Strait of Hormuz is expected to reopen as a result of the deal. Trump posted on his Twitter account, “The deal with the Islamic Republic of Iran is now complete. Congratulations to everyone.”

He said that the deal will help reopen the Strait of Hormuz and end the US naval blockade on Iranian ports. However, the US President has clarified that the Strait of Hormuz will be reopened on Friday after the deal is officially signed.

The announcement, made on Trump's 80th birthday, comes after a week of intense diplomacy between Washington and Tehran. Trump called the deal a "great achievement" and said it would bring calm to the Middle East.

Iran-14 points confirmed

The US and Iran have finally agreed to put a 'brake' on the deadly war in the Middle East. The agreement covers the Strait of Hormuz, nuclear program, military operations, lifting sanctions on Iranian assets, and compensation for Iran.

The US-Iran peace deal includes 14 points. Diplomatic talks between the US and Iran, mediated by Pakistan and regional allies, have yielded results, and the two countries have finally agreed to a peace agreement.

Iran's Supreme National Security Council also confirmed this, saying, "Iran is now ready to sign an agreement with the US. Therefore, all war and military operations, including in Lebanon, will end immediately and permanently, and the naval blockade will be lifted. We will sign a formal memorandum of understanding on June 19." Pakistan, which acted as a mediator in this regard, clarified that "the agreement event will be held in Switzerland."

According to Iran's semi-official Mehr news agency, the information on the 14-point peace agreement between the US and Iran is as follows.

* An immediate and permanent end to military operations on all fronts, including in Lebanon. * A US commitment not to interfere in Iran’s internal affairs and to respect Iran’s sovereignty.

* A complete lifting of the naval blockade and the reopening of the straits within 30 days under the Iran deal.

* A withdrawal of all US forces from areas around Iran in the Middle East.

* A US commitment not to increase military deployment in the region and not to impose new sanctions during the negotiations.

* The lifting of sanctions on Iranian oil, petrochemical products and related exports, and full access to Iran’s revenues.

* A 60-day negotiation period to reach a final agreement on nuclear issues and a broad range of sanctions relief.

* A renewed commitment under the Non-Proliferation Treaty that Tehran will not produce nuclear weapons in the future.

* The US and its allies should provide Iran with at least $300 billion in reconstruction funds to repair the damage and losses caused by the war and for its reconstruction projects.

* The release of $24 billion in frozen/blocked Iranian assets abroad during the negotiations, with half of the funds released before the talks begin.

* The establishment of a monitoring mechanism for the implementation and the approval of the final agreement by the UN Security Council.

Stock market jump

The Indian stock market saw a record jump in trading on Monday as a result of the US-Iran peace deal. The Bank Nifty, the banking sector index, also saw an equally huge jump.

In sectoral trading, realty, automobile, oil and gas, FMCG, metals and PSU bank indices are attracting investors with excellent gains, while the pharma (pharmaceuticals) sector is the only one that has suffered a slight setback and is under severe pressure.

Crude oil prices fall sharply

In the wake of the historic peace deal between the US and Iran, crude oil prices have fallen sharply in the global market, increasing the risk appetite among investors.

Rupee recovery

On the back of positive developments in the global market, the Indian rupee opened trading at 94.68 against the US dollar with a huge recovery of 43 paise, which is the highest level since May 8.

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