US and Iran reach framework to extend ceasefire and reopen the Strait of Hormuz

The United States and Iran agreed to a framework that would extend their ceasefire for 60 days, with a formal signing expected to follow and nuclear negotiations planned afterward.

The agreement matters because it could restore movement through the Strait of Hormuz, ease pressure on energy markets, and create space for talks on Iran’s nuclear program. The route is one of the world’s most important shipping corridors for oil and gas.

The framework was presented as an opening step rather than a final settlement. Its success depends on whether both sides can maintain the ceasefire, reopen maritime traffic safely, and keep the next phase of talks on track.

Source: https://www.axios.com/2026/06/14/us-iran-ceasefire-extended-hormuz-reopen-trump