US and Iran agree roadmap for final peace deal

22nd Jun 2026 08:27

(Sharecast News) - The US and Iran have agreed on a roadmap to reach a final peace deal within 60 days, according to Qatar and Pakistan.

In a joint statement following talks between the two in Switzerland, the mediators said the US and Iran would continue technical talks throughout the week and establish a high-level committee to oversee the mediation process.

"Chief negotiators will report regularly to the High Level Committee and lead working groups focused on nuclear, sanctions, and a monitoring and dispute resolution group to ensure the effective implementation of the MoU, and on other matters," Qatar and Pakistan said in the statement.

They also said that negotiators from the US and Iran have agreed to establish a "de-confliction cell" for Lebanon to "ensure the adherence of the termination of military operations" there as per the memorandum of understanding.

"Technical talks will continue for the remainder of the week at the Burgenstock resort on all issues," Qatar and Pakistan said.

"The mediating parties will continue to do their utmost to ensure that the negotiations continue to be conducted in a constructive atmosphere with the aim of reaching a final deal."

Oil prices fell on the news. At 0823 BST, Brent crude was down 1.6% at $79.31. However, prices were already coming off their lows, having briefly traded below $79 following reports of the roadmap.

Despite the progress, Tickmill Group's Patrick Munnelly was quick to point out that "the situation is not clean", noting that US President Donald Trump has also threatened renewed military action, Tehran has hinted at re-closing the Strait, and shipping activity remains difficult to read.

"The latest reports suggest traffic has slowed, and Iran may be considering a new oversight mechanism for the waterway, possibly including fees for shipping," he said. "That means the market is not pricing peace; it is pricing a lower probability of the worst-case scenario.

"The distinction matters. A 60-day roadmap is encouraging, especially with Oman and Pakistan reportedly helping create a committee to steer negotiations. But a roadmap is not a final deal, and the operational status of Hormuz remains murky."

Munnelly said that oil prices falling below $80 a barrel is a relief for inflation and central banks, "but the risk premium cannot disappear entirely while shipping flows, security arrangements and sanctions negotiations remain unresolved".