world 24 May 2026 Daily Monitor (Uganda)
Trump Announces Potential Iran Deal to Reopen Strait of Hormuz
President Donald Trump stated that a memorandum of understanding for a peace deal with Iran is "largely negotiated" and includes plans to reopen the crucial Strait of Hormuz. Iran's state media, however, has contested some narratives surrounding the potential agreement. Source: https://www.monitor.co.ug/uganda/news/world/trump-says-iran-deal-largely-negotiated-would-reopen-strait-of-hormuz-5471116
President Donald Trump has indicated that a “largely negotiated” memorandum of understanding aimed at resolving the conflict with Iran is nearing completion. A key provision of this emerging agreement, according to Trump’s social media posts, is the reopening of the Strait of Hormuz, a critical global shipping lane that has been largely inaccessible since the war began in February.
Details surrounding the pact remain somewhat vague, but reports suggest it outlines a phased approach to ending the ongoing hostilities. This framework could include the lifting of a U.S. blockade on Iranian ports and the negotiation of Iran’s enriched uranium stockpile within a 30 to 60-day period. U.S. Secretary of State Marco Rubio hinted at potential positive news regarding the strait in the coming hours.
While the end of the war would bring relief to global markets, the energy crisis ignited by the conflict’s impact on oil flows through the strait is not expected to resolve immediately. Experts estimate that full oil transit may not resume until late 2026 or early 2027.
Key aspects reportedly under discussion include Iran’s commitment to never pursue nuclear weapons and to negotiate the suspension of its uranium enrichment program. In return, the U.S. is expected to lift port blockades and provide sanctions waivers for Iranian oil sales. However, Iran’s state media has pushed back on some claims, emphasizing that any changes to passage through the Strait of Hormuz are conditional on the implementation of other commitments, including the release of frozen Iranian funds.
Mediated by Pakistan, the talks have seen progress, with sources describing the situation as “encouraging” but acknowledging that “issues still need to be discussed.” Iran has demanded supervision of the strait and an end to U.S. sanctions, while also prioritizing the cessation of hostilities in Lebanon.