Middle East
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.
Oil prices are dropping significantly as tankers resume passage through the Strait of Hormuz following a preliminary peace accord between the US, Israel, and Iran. This easing of supply concerns has pushed prices towards pre-war levels.
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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.
The Finance Ministry announced on June 17 plans to roll out sector-specific job support measures for manufacturing, construction, agriculture and fisheries amid ongoing economic fallout from the Middle East crisis.
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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.
The United States and Iran have reached a peace agreement that ends military operations in the Middle East immediately. The signing is scheduled for June 19 in Geneva.
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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.
Trump threatens Iran as Vance holds talks in Switzerland
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