Britain, France, Germany and Italy all said on Sunday they were ready to lift sanctions on Iran in response to steps related to its nuclear program, after the United States and the Islamic Republic reached an agreement to end the war between them.

"Iran must never get a nuclear weapon. We are ready to work with the United States, Iran and the International Atomic Energy Agency to achieve this goal."

On Sunday, Pakistani Prime Minister Shehbaz Sharif announced that a peace deal had been reached between the United States and Iran after intensive talks, noting that the two sides had agreed to an immediate and permanent cessation of military operations on all fronts, including Lebanon.

As the agreement comes into effect, the mediators will facilitate a series of meetings this week, Sharif said, while the official signing ceremony of the agreement will be held on June 19th in Switzerland.

For his part, Iran's deputy foreign minister said Tehran's approval of the memorandum of understanding came after its final demands were included in the text, stressing that Iran's military power and the threats posed by his country contributed to finalizing the agreement.

Oil Collapses, Asian Stock Exchanges Jump Strongly

The historic announcement of the peace agreement between the United States and Iran resulted in immediate and violent shocks in global financial markets and Asian stock exchanges on Monday morning (June 15, 2026), driven by the decision to completely and free reopen the Strait of Hormuz and lift the naval blockade, leading to sharp and rapid changes in energy prices and financial assets.

Oil markets saw a sharp collapse of more than 4% as supply disruption fears disappeared and the "geopolitical risk premium" was removed from prices. Brent crude fell 4.10% to $83.75 a barrel after weeks of near $120, while U.S. West Texas Intermediate crude fell 4.72% to $80.87, its lowest level since early March.

On the other hand, Asian bourses greeted the agreement with a record wave of optimism, with Japan's Nikkei jumping more than 4.5% immediately after opening, while South Korea's Kospi index achieved a remarkable rise of 5.7%. U.S. futures also rebounded strongly, with the Dow Jones adding more than 340 points (+0.7%), and the Nasdaq 100 up 1.4%.

Investors in the metals and currency markets turned to gold, which rose 2% to $4,304.11 an ounce, driven by expectations of easing tighter monetary policies after energy pressures and inflation eased. The dollar index, however, fell to a 10-day low as risk appetite returned and liquidity shifted to equities.

Peace deal wipes out billions from shipping and insurance sectors in hours

The sudden announcement of the peace agreement between the United States and Iran, and the accompanying free and unconditional opening of the Strait of Hormuz, caused a severe blow to the shipping and maritime insurance sectors, as global markets witnessed a sharp decline in the shares of companies operating in maritime transport on Monday morning (June 15, 2026), in addition to the immediate cancellation of war risk premiums imposed by insurance companies throughout the conflict, which incurred significant market losses in these sectors.

At the maritime insurance level, the write-off of the "war risk premium" imposed by global companies such as Lloyd's London—which ranged from 1 percent to 2 percent of the total value of the vessel and its cargo—resulted in a loss of billions of dollars in extraordinary revenue that had been generated each month during the crisis.

Reinsurers began repricing bills of lading in the Gulf and the Middle East with a 40% to 60% reduction, which was directly reflected in European insurers' stocks, which fell between 3% and 5%.

The shipping sector was the hardest hit, with shares of container companies and oil giant tankers recording sharp collapses as shipping through Hormuz is expected to return to normal and the crazy rise in freight prices is over. Shares of major Japanese companies fell sharply, and global companies such as Maersk saw a decline in early transactions due to expectations of lower transportation costs and the return of traditional sea lines.

In contrast, the collapse in shipping and insurance costs reflected positively on major industrial and consumer companies, as automotive, aviation, and supply chain manufacturers benefited from a direct drop in raw material and fuel transportation costs, giving them a strong boost in profit margins during the second half of the year.