US and Iran reach deal on Hormuz, 60-day talks begin

The United States and Iran have reached a deal that includes the reopening of the Strait of Hormuz for oil traffic and a 60-day period for further negotiations. US Vice President JD Vance said the 60-day period begins Thursday. The deal was reportedly signed electronically, and Iran will immediately reopen the strait while the US lifts its blockade.

Iran has claimed victory, calling the deal an 'admission of failure' by the Trump administration. Vance defended the agreement, saying Iran needs missiles for 'self-defense,' just like Israel. He also rebuked Israeli critics of the deal, telling them to 'wake up.'

Questions remain about how both sides will uphold their commitments. The deal shifts focus to the Hormuz strait and the upcoming talks, but analysts note that both the US and Iran could struggle to keep the agreement in place.