Washington DC [US], June 15 (ANI): US President Donald Trump on Sunday (local time) hailed the newly announced peace deal between the United States and Iran, saying the agreement would bring 'peace and security' to West Asia and facilitate the reopening of the strategically vital Strait of Hormuz.

In a post on Truth Social, Trump described the agreement as a historic breakthrough and said previous US administrations had failed to achieve a similar outcome with Iran.

'This Great Deal will bring Peace and Security to the whole Region. Many presidents have tried to make Peace with Iran, and all have failed before me. The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace,' Trump wrote.

He added that the Strait of Hormuz would reopen following the formal signing of the agreement later this week.

'With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!' Trump said.

Earlier, Trump announced the peace deal between the two nations following a series of negotiations and mediation involving Pakistan.

Trump announced the completion of the deal and authorised the reopening of the Strait of Hormuz alongside the removal of the US naval blockade, declaring, 'Ships of the World, start your engines. Let the oil flow!'

Following the announcement, Iran's Deputy Foreign Minister for Legal and International Affairs, Kazem Gharibabadi, confirmed the peace deal and outlined Tehran's conditions for moving forward with negotiations.

According to Iran's state-affiliated Press TV, Gharibabadi said the official signing ceremony would take place on Friday, after which the text of the Memorandum of Understanding would be released publicly.

He stated that Iran would enter a proposed 60-day negotiation period for a final agreement only after verifying that the United States had fulfilled commitments related to ending hostilities, lifting the blockade and releasing Iranian assets.

'Entering into 60 days of negotiations is conditional upon the fulfilment of these commitments by the United States,' Gharibabadi said.

The Iranian official also asserted that the agreement was the result of both diplomatic efforts and what he described as Iran's military achievements during the conflict.

Pakistan Prime Minister Shehbaz Sharif said the agreement had been reached following intensive negotiations and announced that the official signing ceremony would be held on June 19 in Switzerland. He also said both sides had agreed to the immediate and permanent termination of military operations on all fronts, including in Lebanon, while thanking Qatar, Saudi Arabia and Turkiye for supporting the mediation process. (ANI)