BAKU, Azerbaijan, June 16. The military escalation that began in June last year between the United States, Israel, and Iran gradually eased after 12 days of confrontation, as the parties chose diplomatic channels and the resumption of nuclear negotiations. However, the renewed tensions on February 28 of this year demonstrated that the conflict had entered a more dangerous phase. The return of military confrontation to the agenda created serious risks not only for the countries of the region but also for the global economy.
The deepening of the conflict had a negative impact not only on security issues but also on international trade, energy markets, transit routes, and cargo transportation.
The situation was further complicated by restrictions imposed by Iran in the Strait of Hormuz, one of the world’s most important energy transportation arteries, as well as the maritime blockade toward the Gulf of Oman carried out by the United States in response. These measures increased uncertainty in global energy markets and led to sharp fluctuations in oil and gas prices.
Rising tensions also negatively affected the implementation of economic projects in the Middle East, regional integration processes, and the long-term development strategies of countries.
Recent developments indicate that the parties prefer a diplomatic settlement rather than continuing military confrontation. Significant progress has reportedly been made toward reaching an agreement as a result of intensive negotiations between the United States and Iran. Against this backdrop, reports that a peace memorandum will be signed between the parties in Switzerland in the coming days have further raised hopes for the restoration of stability in the region.
Interestingly, both Washington and Tehran are presenting the outcome as a diplomatic victory. U.S. President Donald Trump stated on the Truth Social platform that an agreement with Iran had been reached, announcing that the Strait of Hormuz would be opened to international shipping without tariffs and that the U.S. maritime blockade would be lifted immediately by his order.
Iranian President Masoud Pezeshkian, in turn, described the agreement as an important victory for Iranian diplomacy. He noted that in recent weeks Iran had managed to resolve most existing problems with neighboring countries and that the main focus would now be on expanding regional cooperation, strengthening economic ties, and developing mutually beneficial projects.
During the continuation of the conflict, a number of regional and international actors initiated mediation efforts between the parties, working to reduce tensions and ensure peace. These initiatives played an important role in preserving the prospects for a diplomatic settlement.
Overall, the agreement reached between the United States and Iran is significant not only in terms of normalizing relations between the two countries but also for strengthening regional peace, restoring international trade, and enhancing global economic stability. In particular, for energy-exporting and transit countries, this agreement could open new economic opportunities, improve the investment climate, and boost trade turnover.
In this context, the agreement can be seen as an important turning point not only for the United States and Iran but also for the future development of the entire region and the stability of international economic relations.
