Senate President Pro Tempore Sherwin Gatchalian stated that a peace agreement between the US and Iran, which includes lifting a naval blockade and ending military operations, could strengthen Philippine energy security.
Iranian Deputy Foreign Minister Kazem Gharibabadi and US President Donald Trump confirmed the agreement, with the Strait of Hormuz expected to reopen following a formal signing in Switzerland on June 19, 2026.
The pact serves as a framework, with pending 60-day negotiations regarding Iran’s nuclear program and sanctions relief contingent upon Tehran’s verification of US commitments prior to the upcoming signing ceremony.
A PEACE agreement between the United States (US) and Iran could give the Philippines room to strengthen its energy security as global oil markets begin to stabilize, Senate President Pro Tempore Sherwin Gatchalian said Monday, June 15, 2026.
The issue matters to Filipino consumers because disruptions in global oil supply can push fuel prices higher and add pressure to inflation. The coming days will show whether the deal brings lasting relief or only a pause in a crisis that exposed how vulnerable the Philippines remains to shocks in the global oil market.
Conditions for peace
Iranian Deputy Foreign Minister for Legal and International Affairs Kazem Gharibabadi said early Monday that the US naval blockade against Iran would be lifted as of Monday night, Xinhua reported.
He also announced the immediate and permanent end of the war and military operations on all fronts, including Lebanon.
Gharibabadi said Iran and the US will sign the finalized draft of a peace memorandum of understanding in Switzerland on June 19, according to Iran’s semi-official Tasnim news agency.
Tasnim also cited a source as saying the Strait of Hormuz will reopen after the signing ceremony in Switzerland.
“The US-Iran peace deal is a welcome development,” Gatchalian said in a statement, according to a Philippine News Agency report.
US President Donald Trump said the agreement with Iran was complete and that he had ordered the removal of the US naval blockade on Iranian ports.
“Ships of the World, start your engines. Let the oil flow!” Trump wrote in a Truth Social post.
Why it matters
The expected reopening of the Strait of Hormuz could ease pressure on oil markets by allowing the smoother movement of petroleum products.
For the Philippines, that matters because fuel prices affect transport costs, household spending and inflation. Gatchalian said the expected easing of supply pressure could provide relief to consumers who have faced fuel price hikes since March.
But he said the government should not treat the situation only as short-term relief.
“As markets stabilize, the government must seize this window,” he said.
What still has to happen
Full details of the agreement have not been released. Reuters reported that the pact remains a framework, with issues such as Iran’s nuclear program and sanctions relief left for further talks during a 60-day ceasefire period.
Iran’s state-run Irib TV, citing Gharibabadi, said Iran’s entry into the 60-day negotiations with the US on its nuclear program and the removal of sanctions will depend on whether the US fulfills its preliminary commitments.
Those commitments will be verified by Tehran from now until the June 19 signing ceremony, according to the report.
That leaves two tracks moving at once: the announced lifting of the naval blockade and end of military operations, and the pending signing that is expected to lead to the reopening of the Strait of Hormuz.
The need for energy security
Gatchalian said the recent crisis showed that energy security is tied to national resilience and sovereignty.
“The crisis shows that true sovereignty cannot be achieved without energy security,” he said in Tagalog.
The National Government, he said, should speed up renewable energy projects and pursue measures that would make the Philippines less vulnerable to disruptions in the global oil market.
Who’s responsible
The agreement depends on action by both the US and Iran.
Iran says the US naval blockade will be lifted and that further talks will depend on the US fulfilling preliminary commitments before the signing. The US, through Trump, says the agreement is complete and that the blockade on Iranian ports has been ordered removed.
For the Philippines, Gatchalian said the responsibility now is to use the period of market stability to attract energy investments and strengthen local supply.
What’s next
The next key date is Friday, June 19, when Iran and the US are expected to sign the peace memorandum of understanding in Switzerland.
After that signing, the Strait of Hormuz is expected to reopen, according to Tasnim. Iran’s participation in 60 days of talks on its nuclear program and sanctions relief will depend on Tehran’s verification of US commitments before the ceremony. / LRM