US and Iran sign agreement to reopen Strait of Hormuz

US President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf have signed an agreement between the United States and Iran.

Source: Reuters, citing a senior US official

Details: The official also said that details of the agreement would be released within the next 24-48 hours, while technical discussions are expected to begin later this week.

According to the source, the agreement provides for the immediate reopening of the Strait of Hormuz and the lifting of the US blockade on Iran.

An official signing ceremony will also take place on Friday, the source said. Both sides had previously stated that the agreement would be formally signed in Switzerland on Friday 19 June.

"You will see significant increase in traffic in the Strait of Hormuz, actually starting already, and that will ramp up slowly over time," the US official said on condition of anonymity.

"We probably won't return to normal in two weeks, but we will see a significant increase in Strait traffic."

Speaking to reporters in France, where he is meeting French President Emmanuel Macron ahead of the G7 summit, Trump also confirmed that the agreement with Iran had already been signed.

He added that Iran would not obtain nuclear weapons and that sanctions relief would not be granted until Iran fulfils its obligations.

Background:

• Earlier, US President Donald Trump announced that a peace agreement had been reached with Iran and that the Strait of Hormuz would be reopened.
• Following Trump's announcement of the agreement and the reopening of the Strait of Hormuz, oil prices fell by approximately US$4 per barrel.
• The agreement between Iran and the US guarantees Iran revenue from the use of the Strait of Hormuz, with the country set to begin charging transit fees for vessels 60 days after the agreement enters into force.

Support Ukrainska Pravda on Patreon!