By REUTERS Thank you for reading businessdailyafrica.com Show plans Pakistan PM Shehbaz Sharif announces Islamabad MoU signed between US and Iran. Iran to reopen Strait of Hormuz, US to lift naval blockade immediately; formal ceremony set for June 19 in Switzerland. I am honoured to announce that the historic ‘Islamabad Memorandum of Understanding’ has been electronically signed today between the United States of America and the Islamic Republic of Iran. The Memorandum has been signed by honourable Presidents of both the countries and also… — Shehbaz Sharif (@CMShehbaz) June 18, 2026 Initial talks between the United States and Iran are planned at the Buergenstock mountaintop resort in Switzerland on Friday, following the signing of a ceasefire agreement between Tehran and Washington, the Swiss government said on Thursday. Related World PRIME US-Iran standoff in Strait of Hormuz casts fresh shadow over peace prospects May 11 – 6 min read World PRIME Iran rejects US ceasefire proposal, Trump deems it ‘unacceptable’ May 11 – 2 min read “As things stand, the plan is still for the US and Iran, along with mediators Pakistan and Qatar and other involved countries, to meet tomorrow at Buergenstock for initial negotiations about implementing the agreement. “No further information is currently available regarding the schedule and details of this meeting,” the Swiss foreign ministry said in a statement. Follow our WhatsApp channel for breaking news updates and more stories like this. Please enable JavaScript to view the comments powered by Disqus. Login to join the discussion Don’t have an account? Register