President Donald Trump says a peace deal with Iran is nearly complete. The agreement would include reopening the critical Strait of Hormuz shipping lane.
Tensions erupted in the Middle East after Iran blocked the Strait of Hormuz in April. The US and Iran had clashed over alleged violations of earlier understandings.
Through this waterway flows a massive share of the world's daily oil supply. Any prolonged closure threatens global energy markets with severe disruption.
Trump announced progress through a social media post from the Oval Office. He said he'd just completed talks with numerous regional and international leaders.
On the call were Saudi Arabia's Mohammed bin Salman and UAE's Mohammed bin Zayed. Qatar's leadership joined the discussion, along with officials from Pakistan, Turkey, Egypt, Jordan, and Bahrain.
According to Trump, "An agreement has been largely negotiated." Final details between the US, Iran, and other nations remain under discussion.
He noted that reopening Strait of Hormuz will be part of the broader memorandum of understanding. Trump promised full details would be shared within days.
Trump also spoke separately with Israeli Prime Minister Benjamin Netanyahu about the arrangement. He described their conversation as equally productive.
"Final aspects and details of the deal are currently being discussed," Trump wrote in his post. The president thanked parties involved for their attention to the matter.
British Prime Minister Keir Starmer welcomed the potential breakthrough on social media. He stressed the need for an accord that fully ends the conflict.
Starmer called for "unconditional and unrestricted freedom of navigation" through the Strait. London sees the reopening as essential for global maritime commerce.
Iranian foreign ministry spokesperson Esmail Baghaei offered a cautious assessment on state television. He said US and Iranian positions have drawn closer this past week.
However, Baghaei warned that convergence doesn't ensure agreement on core issues. He criticized Washington for what he called contradictory public statements.
The Iranian official didn't elaborate on which specific statements he meant. Observers noted his comments suggest underlying disagreements remain despite recent progress.
Daily Trust first reported the Hormuz closure crisis in April. At that time, the standoff threatened to reshape global energy geopolitics.
Multiple shipping routes worldwide depend on safe passage through the strategic waterway. Insurance costs and fuel prices would spike dramatically if transit halts.
Energy analysts had warned of immediate market shocks following Iran's blockade announcement. Oil-importing nations faced potential supply chain disruptions within weeks.
Trump's announcement suggests intensive behind-the-scenes diplomacy among Middle Eastern powers. Pakistan and Turkey's involvement indicates broader regional coordination in negotiations.
Experts view Israeli participation as significant for any lasting regional settlement. Netanyahu's positive assessment could signal potential shifts in Israel-Iran dynamics.
The coming days will reveal whether negotiators can finalize outstanding details. Trump promised transparency once all parties reach consensus on final terms.
