World Leaders Welcome US-Iran Deal As Oil Prices Plunge On Planned Reopening Of Hormuz

World leaders have reacted to the peace agreement by the United States and Iran aimed at putting an end to months of hostilities which have left hundreds killed and disrupted global economy.

Both the US and Iran confirmed the deal on Sunday with the signing ceremony slated for later this week.

“The Deal with Islamic Republic of Iran is now complete. Congratulations to all!” President Donald J. Trump declared on his Truth Social Page as he marks his 80th birthday.

“I hereby fully authorise the toll-free opening of the Strait of Hormuz and, simultaneously herewith, authorise the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!”

Pakistani Prime Minister Shehbaz Sharif posted on X that a peace deal “has been REACHED” and an official signing ceremony will be held on June 19 in Switzerland.

The development immediately triggered a sharp drop in Brent Crude from $87 per barrel to $83 as of the time of filing this report while the WTI crude crashed to $80 per barrel with the hope of further reduction in days to come if the peace agreement is sustained and the Strait of Hormuz- the waterways controlling more than 20 per cent of global fuel supplies- is completely reopened.

World leaders have hailed the new understanding between the US and Iran.

Emmanuel Macron, France President, writing on X said, “I welcome the agreement reached between the United States and Iran, the result of a diplomatic effort to which several partners have contributed. I call for its rapid and complete implementation by all belligerents.

“This agreement must enable the urgent and unconditional reopening of the Strait of Hormuz, which the international mission established with the United Kingdom is ready to support. The resources are in place and ready to be deployed. The resumption of maritime traffic, without restriction or toll, is an indispensable condition for regional stability and the global economy.

“This agreement also paves the way for comprehensive negotiations in service of peace and security for all in the Middle East. These must address concerns related to Iran’s nuclear and ballistic programs, as well as its policy of regional destabilization. This is how we will be able to build a solid and lasting peace. France is prepared to play its full part, alongside its partners.

“It will also continue to provide its full support to the determined efforts of the Lebanese authorities to restore the sovereignty of the State, which alone can ensure Lebanon’s stability and territorial integrity and meet the needs of its populations. A robust and lasting ceasefire is indispensable for this purpose.”

Qatar through its foreign Minister said, “We welcome the understanding reached between the United States and the Islamic Republic of Iran, which paves the way for a lasting cessation of military operations. We commend the constructive efforts of the Islamic Republic of Pakistan in facilitating this process, alongside the support of regional and international partners.

“We hope this development will serve as a catalyst for broader efforts to advance stability and address outstanding issues through responsible and constructive engagement. Qatar reaffirms its steadfast commitment to peace and dialogue as the most effective means of resolving differences, in line with the principles of the United Nations Charter and in support of international peace and security.”

German Chancellor, Friedrich Merz, said, “I welcome the agreement between the U.S. and Iran and congratulate President Trump and the Iranian side on this diplomatic breakthrough. This can pave the way towards a reinvigorated global economy and a more secure Middle East. It is crucial to implement it with determination.”

On his part, the President of Turkey, Recep Tayyip Erdogan ,described the agreement “as an important development for establishing peace and tranquility in our region, and I welcome it with satisfaction.”

He added, “I sincerely hope that this news, which the entire world has long needed, will pave the way for the establishment of a lasting environment of peace and security in our region.

“I emphatically underscore the need to avoid rhetoric, provocations, and actions that could escalate tensions in the period leading up to the signing of the agreement, and to remain vigilant against possible sabotage.

“I extend my thanks to Pakistan for its exceptional mediation efforts, particularly to the leaderships of the United States and Iran, in achieving this outcome.

“I also wish to express my appreciation for the support provided to diplomatic initiatives by Qatar and Saudi Arabia.

As Türkiye, we will continue to support all efforts aimed at establishing peace, stability, and tranquility in our region, and to contribute to lasting solutions based on diplomacy and international law.”