Trump Announces Framework Deal With Iran to Reopen Hormuz and End War
President Donald Trump said the United States and Iran have reached a memorandum of understanding to end the war, lift the naval blockade and reopen the Strait of Hormuz. He said the deal will be signed on Friday, after which the strait will reopen, restoring a passage that carried about 20% of global oil shipments before the war. But major questions remain about implementation, especially how long it will take to clear the backlog of ships and what the accord will ultimately mean for Iran’s nuclear program.
Hormuz has been closed since late February, when the Israeli American offensive in Iran began, driving up global energy prices and raising fears of shortages in natural gas and related products. Trump said the strait would reopen on Friday for mine clearance, and that oil would again flow both ways
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