The contract sets a high bar, but not a clean one.
YES needs either a written agreement that explicitly says hostilities have ended or will permanently cease, or clear public confirmation from both governments that a qualifying deal is definitively established.
That leaves multiple gray zones: what language is “equivalent” to a lasting end to hostilities, what counts as “clear public confirmation,” and whether an agreement in principle, draft framework, memo, or leader statement is enough.
That ambiguity matters because headlines can move price before the underlying resolution standard is met. Reports of a draft plan or tentative deal support a path to YES, but continued attacks and no formal permanent announcement point the other way. The edge here is separating negotiation progress from the specific proof this contract actually requires.