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Washington and Tehran have reached a framework agreement to end the war between the two countries, including lifting the American sanctions on Iran and reopening the Strait of Hormuz. The preliminary deal led to a drop in oil prices by more than 4%. The announcement came after understandings between the two governments and Pakistani mediation, with the expectation of signing the memorandum in Switzerland on Friday. Future negotiations are expected to address Iran's nuclear program and the easing of sanctions.
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