Trump says Iran deal 'largely negotiated' including reopening Strait of Hormuz

May 24, 2026

President Trump announced that the United States and Iran have substantially completed negotiations on a peace agreement that would include reopening the strategically vital Strait of Hormuz, though Iranian officials cautioned that convergence on positions doesn't guarantee final agreement. The diplomatic progress follows a ceasefire established in April after military strikes between the US-Israel alliance and Iran in late February, during which Iran effectively closed the strait that carries approximately one-fifth of global oil and gas supplies. Pakistan has been facilitating negotiations as an intermediary and hopes to host upcoming discussions, while Iran's foreign ministry indicated they're working toward a 14-point framework agreement with additional talks expected within 30-60 days.

Who is affected

United States and Iran (primary parties)
Saudi Arabia, United Arab Emirates, and Qatar (regional stakeholders)
Israel and Prime Minister Benjamin Netanyahu
Pakistan and Prime Minister Shehbaz Sharif (serving as intermediary)
US-allied Gulf states previously targeted by Iranian attacks
Global shipping industry and energy markets dependent on the Strait of Hormuz
Ships transiting the region (100 vessels redirected, 26 humanitarian ships allowed passage)

What action is being taken

US and Iranian officials are negotiating and finalizing details of a peace agreement
The US is maintaining a blockade of Iranian ports (since April 13)
US Central Command is redirecting vessels and controlling maritime traffic
Iran is asserting military control over the Strait of Hormuz area
Pakistan is facilitating negotiations between the parties
Trump is conducting phone calls with regional leaders about the peace memorandum

Why it matters

This agreement is significant because it could end a dangerous military conflict in the Middle East that threatened global energy supplies and regional stability. The Strait of Hormuz carries approximately 20% of the world's oil and natural gas, making its closure a critical threat to the global economy. The deal also aims to prevent Iran from obtaining nuclear weapons, addressing a long-standing international security concern. The successful resolution would represent a major diplomatic breakthrough after escalating tensions that included large-scale military strikes and counter-attacks across the region.

What's next

Final details of the agreement will be announced shortly
Pakistan hopes to host the next round of talks very soon
Iran plans to finalize a memorandum of understanding so further talks can be held within 30 to 60 days
Iran aims to reach a final agreement following those additional discussions

Read full article from source: BBC