Geneva, Jun 15 (V7N) — Following the historic announcement of a preliminary peace agreement between the United States and Iran, four influential European nations—the United Kingdom, France, Germany, and Italy—have announced their readiness to lift economic sanctions imposed on Iran. This conditional offer comes amid a sharp decline in global oil prices and growing optimism over the reopening of the strategic Strait of Hormuz.
In a joint statement issued on Sunday, British Prime Minister Keir Starmer, French President Emmanuel Macron, German Chancellor Olaf Scholz, and Italian Prime Minister Giorgia Meloni welcomed the diplomatic breakthrough. The European leaders stated that they remain firmly committed to ensuring that Iran never acquires nuclear weapons, promising to work closely with the United States, Iran, and the International Atomic Energy Agency (IAEA) to maintain strict oversight.
The four-nation coalition explicitly clarified that the gradual easing or complete lifting of European sanctions will be executed directly in response to "concrete and positive steps" taken by Tehran regarding its nuclear program.
Despite the preliminary peace framework, top officials from both Washington and Tehran have acknowledged that determining the long-term fate of Iran's nuclear infrastructure remains a highly complex issue, requiring intensive technical discussions during the upcoming 60-day ceasefire window.
Early on Sunday (June 15), US President Donald Trump confirmed the monumental shift on his social media platform, Truth Social, declaring, "The deal with the Islamic Republic of Iran is now done." The statement came shortly after Pakistani Prime Minister Shehbaz Sharif, who acted as the primary mediator between the two hostile nations, officially announced that both sides had reached a consensus.
The formal Memorandum of Understanding (MoU) is scheduled to be officially signed this coming Friday in Geneva, Switzerland. Global energy markets have already reacted positively to the news, with international oil prices dropping nearly 5 percent on expectations that the vital Strait of Hormuz—which handles one-fifth of the world's daily petroleum supply—will be fully cleared for commercial transit within the next 30 days.
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