US, Iran to sign interim peace deal on Friday to trigger oil sanctions relief and full Hormuz reopening

The US and Iran are set to finalize a temporary peace deal on Friday in Switzerland, marking a significant shift in relations that will allow Tehran to resume oil sales and reopen the Strait of Hormuz fully. This agreement, announced by President Trump and other officials, aims to de-escalate tensions and stabilize the region, potentially impacting global oil prices and supply chains. The move is crucial as it seeks to address long-standing conflicts and could pave the way for more substantial diplomatic efforts in the future.