Pakistani Prime Minister Shehbaz Sharif:
"I am honoured to announce that the historic 'Islamabad Memorandum of Understanding' has been electronically signed today between the United States of America and the Islamic Republic of Iran.
The Memorandum has been signed by the Presidents of both countries and also endorsed by me as the mediator. The signing of this agreement at the highest level of the respective governments demonstrates the commitment of both sides to a diplomatic resolution of the conflict.
The Islamabad MoU shall enter into force with immediate effect. As a first step, the Islamic Republic of Iran will immediately reopen the Strait of Hormuz, and the United States of America will immediately lift the naval blockade.
I offer my heartfelt congratulations and sincere appreciation to the President of the United States, Donald J. Trump, whose steadfast commitment to diplomacy and preference for a peaceful resolution have once again helped end a conflict that could have led to devastating consequences for the region and beyond.
I also commend the dedication and tireless efforts of the United States negotiating team, including J.D. Vance, Steve Witkoff, and Jared Kushner, for their invaluable contributions to this achievement.
I express my profound respect and appreciation to His Eminence Ayatollah Seyyed Mojtaba Hosseini Khamenei, the Supreme Leader of the Islamic Republic of Iran, and President Masoud Pezeshkian for their wisdom, foresight, and statesmanship in embracing the cause of peace.
I also wish to recognize the efforts of the Iranian negotiating team, including Mohammad Bagher Ghalibaf, Abbas Araghchi, and Eskandar Momeni, whose patience, perseverance, and commitment to constructive engagement were instrumental in bringing this agreement to fruition.
I would especially like to acknowledge the sincere efforts and constructive engagement of the leadership of the State of Qatar in helping reach this point. I also highly commend the leadership of the Kingdom of Saudi Arabia, the Republic of Türkiye, and the Arab Republic of Egypt for their indispensable role and invaluable contributions in this regard.
I would also like to make special mention of Field Marshal Syed Asim Munir, whose tireless efforts, selfless dedication, and instrumental role were critical in facilitating this breakthrough and advancing the cause of peace and regional stability.
May this Memorandum of Understanding serve as an enduring foundation for greater understanding, mutual respect, and shared prosperity for the entire region."
⚡BREAKING:
🇺🇸 Trump family-backed WLFI is reportedly nearing approval for an OCC trust charter, which would allow it to directly issue and redeem its USD1 stablecoin.
🚨REMINDER:
🇺🇸 The first FOMC decision under Fed Chair Kevin Warsh is due tonight at 2:00 PM ET.
Markets see a 99.6% chance of rates remaining unchanged at 3.50%–3.75%.
⚡BREAKING:
🇮🇷🇺🇸Iranian air defenses are active over Qeshm Island, at the entrance to the Strait of Hormuz, as a second wave of U.S. strikes is reported.