Hours after US President Donald Trump called off the planned strikes on Iran citing a deal is near the finish line, a new report from Bloomberg has emerged that says that the US and Iran are close to signing a peace deal in Geneva soon, that will see the Strait of Hormuz being reopened.
G7 leaders will meet next week in France for the 52nd G7 Summit. The variables of the deal are likely to be on the radar. Iran however has not confirmed any agreements, with the Middle East region still in turmoil, months after the first batch of strikes hit Iran in late February.
A proposal of MOU with the US is currently being mulled in Iran, but no timeline has been provided. Oil and subsequent material prices continue to soar due to the close of the Strait of Hormuz.
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