Trump and Iran reach agreement that includes opening Strait of Hormuz

The US and Iran have reached a framework agreement to lift the US naval blockade on Iranian ports and reopen the Strait of Hormuz, a critical global oil waterway. The memorandum of understanding will take effect after a signing ceremony in Switzerland on Friday, with US Vice President JD Vance and possibly President Donald Trump in attendance. A 60-day negotiation period will follow to formalize an end to the war, though the full agreement text remains unreleased. Iran’s deputy foreign minister, Kazem Gharibabadi, confirmed that nuclear talks will begin only if the US meets three key commitments: lifting the blockade, ending military operations, and releasing billions in frozen Iranian funds. He emphasized that technical negotiations will start immediately once these conditions are verified, with further discussions scheduled in Switzerland after the signing. Qatari mediators concluded 17 hours of negotiations in Tehran and will hold separate preparatory meetings in Doha this week ahead of the official signing. The Strait of Hormuz’s reopening has already impacted global oil prices, with Brent crude and US crude prices falling after the announcement. The agreement was announced by President Trump on his 80th birthday, hours before he hosted a UFC event at the White House celebrating the US’s upcoming 250th anniversary. Trump will later travel to France for the Group of Seven summit. France, Germany, Italy, and the UK leaders have separately called for the urgent reopening of the Strait of Hormuz, underscoring its importance to global energy markets. The deal marks a potential shift in regional tensions, though full implementation remains contingent on US compliance with Iran’s demands.