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Bessent: Iran commits to free Hormuz transit and IAEA inspections
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U.S. Treasury Secretary Scott Bessent said Iran has committed to free and open transit through the Strait of Hormuz and the return of International Atomic Energy Agency inspectors.
The DAX ended trading on Monday up 0.6 percent at 25,140 points. The move followed news of an understanding between the US and Iran on further negotiations.
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President Trump warned he would strike Iran harder if its proxies in Lebanon continue causing trouble. Vice President JD Vance met Iranian officials and other mediators in Switzerland on Sunday to discuss a fragile memorandum of understanding signed last week.
President Donald Trump promoted a preliminary agreement with Iran during the ongoing G7 summit in Evian-les-Bains, France. The deal aims to address Iran's nuclear program and ensure open shipping through the Strait of Hormuz. A ceremonial signing is scheduled for Friday.
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The Department of Energy welcomed progress in US-Iran peace talks but cautioned that restoring domestic fuel prices to pre-crisis levels could require six to 12 months. Officials emphasized that the situation now involves broader economic effects beyond oil supply.
US President Donald Trump accused Iran of spreading inaccurate versions of a provisional memorandum of understanding, complicating its signing scheduled for this weekend in Geneva.
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President Trump announced Thursday that he had canceled scheduled U.S. strikes on Iran after high-level discussions with Iranian leadership. He said a peace deal would be signed soon, possibly in Europe, while maintaining a naval blockade until the transaction is finalized.
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