VESSELS stuck at the Strait of Hormuz and are in danger of armed attacks can soon leave as the major shipping route is set to reopen on Friday.
In a news report published by Reuters, it was stated that Iranian officials have agreed on a framework to end their war, halt the US blockade of Iran and reopen the Strait of Hormuz.
“Ships of the World, start your engines. Let the oil flow!” Trump wrote in his Truth Social platform.
Trump said the Strait of Hormuz, a major shipping lane for global oil and gas supplies that Iran has effectively shut down for months, would open on Friday, and that he had ordered the end of the US blockade of Iranian ports.
The memorandum of understanding is scheduled to be officially signed on Friday in Switzerland.
The precise terms were not immediately known. Pakistani Prime Minister Shehbaz Sharif, whose country has served as a mediator, said in a post on X, however, that the pact called for “the immediate and permanent termination of military operations on all fronts, including in Lebanon.”
Oil prices fell on the news. Brent crude futures fell 4 percent in early trading on Monday, while US West Texas Intermediate slid more than 4.6 percent. Stock markets in Asia jumped.
Former Biden administration State Department spokesman Matthew Miller said Trump had made important concessions to Iran to achieve the status quo that existed before he launched the war.
It can be recalled that thousands of people have been killed, mostly in Iran and Lebanon, since US and Israeli forces first attacked Iran on Feb. 28. Iran has struck Israel and Gulf states hosting US bases and has effectively blockaded the Strait of Hormuz, pushing up global energy prices. US forces have blocked Iranian ports in response.
Leaders outside the Middle East, who have kept a wary eye on the conflict, welcomed the announcement.
In a joint statement, the United Kingdom, Germany, France and Italy said they were prepared to lift sanctions on Iran in response to “clear, verifiable steps” to limit its nuclear program.
“We are clear that toll-free freedom of navigation must now be restored in the Strait of Hormuz. Iran must never have a nuclear weapon,” British Prime Minister Keir Starmer said.
