The Strait of Hormuz will be reopened on Friday when the agreement between the US and Iran is signed, Donald Trump reports.
The US and Iran have Sunday announced that they have agreed on the framework for a peace agreement to end the war between the two countries.
With the agreement, the US naval blockade of Iranian ports must be lifted and the Strait of Hormuz must be reopened. This could lead to lower energy prices when the transport of oil through the important waterway can resume.
– The agreement with the Islamic Republic of Iran is now in place, wrote the President of the United States, Donald Trump, before midnight on Sunday evening on his own social media, Truth Social.
His post came shortly after the Prime Minister of Pakistan, Shehbaz Sharif, had also announced in a post on the social media X that an agreement had been reached.
Pakistan has been a mediator in the negotiations between the US and Iran.
Exact terms are not known
According to both Sharif and Trump, the agreement will be officially signed on Friday in Switzerland.
The exact terms of the agreement are not immediately known. The Pakistani prime minister writes that it implies an “immediate and permanent end to military operations on all fronts, including in Lebanon”.
Lebanon has been a key sticking point in the talks, and Israel and the Lebanon-based Hezbollah militia have in recent weeks rejected calls from Trump and other parties to end their mutual attacks.
According to the Reuters news agency, Israel did not immediately comment on reports of an agreement.
Trump: Strait will be reopened on Friday
According to Trump, the Strait of Hormuz will be reopened on Friday. The strait is of great importance to the world’s oil trade, as a fifth of the world’s total oil consumption usually passes through the strait.
After the US and Israel launched the first wave of attacks in Iran in February, Iran threatened to attack ships passing through the strait, halting shipping traffic.
Trump also announced in his post on Sunday that he has ordered the naval blockade of Iranian ports to be lifted.
– All ships of the world, start the engines. Let the oil flow, it said.
According to Reuters, oil prices have fallen following reports of an agreement.
Brent crude futures fell 4 percent in early trade Monday, while U.S. West Texas Intermediate crude fell more than 4.6 percent.
The Deputy Foreign Minister has confirmed the end of the war
Kazem Gharibabadi, who is Iran’s deputy foreign minister, has also confirmed late on Sunday, according to Reuters, that an immediate end to the war will take place.
According to him, a more comprehensive agreement must be negotiated in place during a 60-day period of ceasefire. The negotiations must, among other things, apply to a relaxation of sanctions.
Sources have told Reuters that Iran’s nuclear program will also be part of the negotiations.
Earlier on Sunday, Trump told several American media that an agreement with Iran was on the way.
On Sunday evening Danish time, he told The Wall Street Journal that the agreement will mean, among other things, that Iran will not acquire nuclear weapons.
When the war was launched on February 28 with the attack by the US and Israel, Trump justified it on the grounds that Iran was developing nuclear weapons.
/ritzau/
