PM Shehbaz Signs US-Iran Agreement; Naval Restrictions Removed

Updated: 5:01 AM PKT — June 19, 2026

Further details have emerged regarding the ‘Islamabad Memorandum of Understanding’ signed by the US and Iran. The 14-point agreement aims to end the 100-day conflict, reopen the Strait of Hormuz, and establishes a 60-day timeline for further talks. Under the deal, the US will lift its naval blockade and waive oil sanctions, with a $300 billion reconstruction fund to be released upon a final agreement on Iran’s nuclear program.

During a 30-minute phone call following the signing, Iranian President Dr. Masoud Pezeshkian thanked Prime Minister Shehbaz Sharif and Chief of Army Staff Field Marshal Asim Munir for their “extremely critical roles” in the successful mediation. The two leaders also agreed to visit each other’s capitals at the earliest opportunity to enhance bilateral cooperation.

Updated: 4:51 AM PKT — June 19, 2026

Following the signing of the ‘Islamabad Memorandum of Understanding’, Prime Minister Shehbaz Sharif held a 30-minute phone call with Iranian President Dr. Masoud Pezeshkian to discuss the historic peace deal. During the call, President Pezeshkian thanked PM Shehbaz and Chief of Army Staff Field Marshal Asim Munir for their “extremely critical roles” in successfully mediating the agreement.

The 14-point agreement provides a framework to end over 100 days of conflict, including the reopening of the Strait of Hormuz, the lifting of the US naval blockade and oil sanctions on Iran, and a 60-day timeline for further talks. The deal also includes a provision for a $300 billion reconstruction fund for Iran, to be facilitated by the US once a final agreement on nuclear issues is reached.