Iran updates: World leaders positive as peace deal dawns

Iran updates: World leaders positive as peace deal dawns Published June 15, 2026last updated June 15, 2026What you need to know - The US and Iran have announced a preliminary ceasefire deal, to be signed later this week - The deal would reopen the Strait of Hormuz for oil exports but other details remain elusive - World leaders have welcomed the announcement as an important first step - Oil prices fell after the announcement - US President Donald Trump posted: 'Ships of the world, start your engines!' Keep reading here for updates on the Iran war on Monday, June 15: Tired of missing our real-time updates? Click here to add us as a Preferred Source on Google. What to know about the tentative deal to end the Iran war: The detailed terms of the agreement, due to be signed in Switzerland on Friday, have yet to be made public. Here's what we know so far: - The Strait of Hormuz would reopen after the deal is signed on Friday, according to Trump. Tehran reiterated the same timeline - A more expansive agreement to be negotiated during a 60-day ceasefire period - The 60-day period would address Iran's nuclear program - Iranian sanctions relief would also be negotiated - Pakistan, which announced the deal, has insisted it includes Lebanon. Israel, which has maintained its fight against Hezbollah, has yet to comment - On Saturday, Trump had implied the deal would not include Iran handing over its enriched uranium. This had been a key condition of Israel, which was not party to the talks EU's Kallas welcomes 'potential breakthrough' The European Union's High Representative for Foreign Affairs Kaja Kallas on Monday welcomed the preliminary deal between the US and Iran to end the war. "This marks a potential breakthrough," Kallas wrote on X. "It can give much needed space for deeper negotiations on Iran’s nuclear program and other critical issues. Once implemented, the deal should also ease the global energy crisis." Kallas said she had spoken to her Iranian and Gulf counterparts in recent days. She added that EU Foreign Ministers meeting later on Monday will discuss how the bloc can be closely involved in the coming phase. "From economic leverage to nuclear expertise and longstanding relationships with Gulf partners, the EU stands ready to contribute to a sustainable resolution," Kallas said. Oil prices fall, stocks rally after ceasefire announcement Oil prices fell and shares rallied on Monday after Washington and Tehran announced a tentative peace deal that would see the Strait of Hormuz reopened. Brent crude oil — the international standard — fell more than 4% to $83.82 per barrel in early trading. "Ships of the world, start your engines. Let the oil flow!" Trump posted on his Truth Social platform. Stock markets also reacted positively to the news. In Asia, Japan's Nikkei and South Korea's KOSPI each gained more than 5%. On Wall Street, futures for the S&P 500 were up 1% and for the Dow Jones Industrial Average up 0.9%, pointing to likely early gains. But it could still take months for oil prices to stabilize, while shipping and insurance companies will also want to be confident that this latest ceasefire announcement will hold. "Markets are likely to be cautious in not over-extending optimism as they watch for an actual resumption of traffic across Hormuz," analysts from Japan's Mizuho Bank said in a commentary. Meanwhile, as Europe woke up on Monday, European Central Bank President Christine Lagarde told France Culture radio that the ceasefire agreement reached with Iran was "good news." Welcome to our coverage Good morning and welcome to DW's coverage of the Iran war as we follow the announcement of a peace deal between Washington and Tehran. The EU's foreign policy chief Kaja Kallas on Monday hailed the "potential breakthrough." She hoped it would help solve the global energy crisis. Oil prices fell immediately after the announcement, but analysts believe it will take months for prices to truly stabilize if this latest announcement holds.