Trump announces progress on Iran peace deal, signalling the Strait of Hormuz, vital for global trade, could reopen soon. Published On 24 May 202624 May 2026United States President Donald Trump says a memorandum of understanding on an agreement with Iran has been “largely negotiated” and would reopen the Strait of Hormuz, the vital oil chokepoint closed since the US and Israel launched their war in February.Prime Minister Shehbaz Sharif of Pakistan, the mediator in the talks, said the next round of negotiations between the US and Iran will happen “very soon”.Recommended Stories list of 3 itemsend of listPakistani Foreign Minister Ishaq Dar said on Sunday that “meaningful progress” had been achieved, offering grounds for optimism that a positive and durable outcome is within reach.However, Iran’s Fars News Agency pushed back on some of Trump’s claims, reporting that the draft agreement would leave Iran in charge of the strait and calling Trump’s assertions “inconsistent with reality”.Meanwhile, Israeli Prime Minister Benjamin Netanyahu is expected to hold a security cabinet meeting this evening to discuss the potential deal, Israeli media reported.Here is what we know:In the US:
Trump posted on social media that the emerging agreement would reopen the Strait of Hormuz, the vital shipping passage whose closure has sparked a global energy crisis. He did not say what else would be included in an agreement.
In a post on his Truth Social platform, the US president described the agreement as a “Memorandum of Understanding pertaining to PEACE” that was still “subject to finalization” between the US, Iran and “various other Countries”, adding that all “Final aspects and details of the Deal are currently being discussed, and will be announced shortly”.
Trump said the progress followed calls with Israel and key regional allies and “the Strait of Hormuz will be opened,” offering potential relief to global energy markets.
“Significant progress” has been made on resolving the situation in the Strait of Hormuz, US Secretary of State Marco Rubio said on a visit to India. Th …
