Trump says US and Iran reach peace deal to reopen Strait of Hormuz

President Donald Trump announced Sunday that the United States and Iran have reached a peace agreement that would reopen the Strait of Hormuz and lift the U.S. naval blockade of Iranian ports.

"The Deal with the Islamic Republic of Iran is now complete," Trump wrote on Truth Social. "Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!"

Pakistani Prime Minister Shehbaz Sharif, whose country served as a mediator, was the first to announce the deal. He said a signing ceremony is scheduled for Friday in Switzerland. Trump added that the strait will reopen once the parties sign the agreement.

"With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!" he said.

According to Sharif, the deal includes the termination of military operations across the region, including in Lebanon, where Iran-backed Hezbollah has been in conflict with Israel. "Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon," he said.

Iran's deputy foreign minister said talks with the United States on a final agreement will take place during a 60-day ceasefire period, Reuters reported. The future of Iran's nuclear program will be addressed in those negotiations. Trump has long said Iran cannot possess a nuclear weapon.

Trump praised the agreement. "This Great Deal will bring Peace and Security to the whole Region," he said. "Many presidents have tried to make Peace with Iran, and all have failed before me. The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace."

Sharif thanked the United States and Iran for their commitment to a diplomatic solution, as well as Qatar, Saudi Arabia and Turkey for their roles in the mediation. Mediators are expected to hold meetings this week to prepare for technical talks and the signing ceremony.

The agreement would end the conflict that began on Feb. 28 and disrupted about 20% of global oil shipments through the Strait of Hormuz. It comes roughly one year after Israel struck Iran during Operation Rising Lion. The strikes led to a 12-day conflict before Trump ordered strikes on three Iranian nuclear facilities later that month.