The deal could end the on-again, off-again war with Iran, which has also led to shelling in multiple Gulf states as well as Israel and Lebanon, but it pushes the issue of Iran’s nuclear program to further negotiations over the next 60 days.
Crucially for both sides, it would reopen the Strait of Hormuz, through which about 20 percent of the world’s supply of oil flows.
“The Deal with the Islamic Republic of Iran is now complete,” Trump wrote in a Truth Social post. “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!”
The U.S. had imposed a naval blockade of Iranian ports for months in retaliation for Tehran essentially closing the strait.
Trump was under enormous pressure to reach a deal to end the war with Iran given this year’s midterm elections, in which the House and Senate majorities for Republicans are both up for grabs. The rising fuel prices have done political damage to the president on the broad issue of affordability, which is seen as the key issue this fall.
The question now is whether Trump and his team can reach a final deal with Iran that meaningfully constricts its ability to gain nuclear weapons, the reason the U.S. and Israel began the war at the end of February.
Formal text of the agreement has not yet been released, but the administration said Monday that both Trump and Vice President Vance electronically signed a memorandum of understanding with Iran on Sunday, while Mohammad Bagher Qalibaf, speaker of the Iranian Parliament, signed for the Iranian side.
The details of the memorandum will be released Tuesday or Wednesday, according to the officials, who noted that the agreement is only the first step, with “real technical discussions” led by Vance to begin later this week.
Trump seemed to contradict that timeline later in that day, saying the details would come out after Friday's signing.
Read the full report at thehill.com.
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