The United States and Iran have agreed on a roadmap to reach a final peace deal within 60 days, following hours of negotiations at the Bürgenstock resort in Switzerland.
The agreement marks a significant de-escalation in a two-month period of heightened regional tension that had kept global markets on edge.
Multiple wire services, including Euronews and Koreatimes, reported the development, noting that the talks concluded with a joint statement outlining the next steps.
Multiple wire services, including Euronews and Koreatimes, reported the development, noting that the talks concluded with a joint statement outlining the next steps.
While the full terms of the roadmap remain undisclosed, the 60-day timeline suggests a structured process aimed at resolving core disputes, potentially including nuclear restrictions and sanctions relief.
The market reaction was swift, with Brent crude futures easing as traders priced in a reduced risk of supply disruption in the Strait of Hormuz.
Shipping rates for tankers also softened, reflecting lower geopolitical risk premiums.