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The President of the United States, Donald Trump, announced this Saturday from the Oval Office that a largely successful peace agreement has been reached between Washington, the Islamic Republic of Iran, and several countries in the region, which includes the reopening of the Strait of Hormuz, closed to commercial traffic since late February.
Trump announced it through his social network Truth Social, where he detailed that he held a joint call with the leaders of Saudi Arabia, the United Arab Emirates, Qatar, Pakistan, Turkey, Egypt, Jordan, and Bahrain, in addition to a separate conversation with Israeli Prime Minister Benjamin Netanyahu.
"I'm in the Oval Office of the White House, where we just had a very good call [...] regarding the Islamic Republic of Iran and everything related to a Memorandum of Understanding concerning PEACE. An agreement has largely been negotiated, pending finalization, between the United States of America, the Islamic Republic of Iran, and the various countries mentioned," wrote Trump.
The leader was explicit about one of the central points of the pact: "In addition to many other elements of the agreement, the Strait of Hormuz will be opened."
According to reports from AP and Al Jazeera, the agreement would consist of a one-page memorandum that would open a 30-day window to negotiate a broader deal, and would include the release of billions of dollars in frozen Iranian funds, a figure that some sources raise to nearly 100 billion dollars.
The Secretary of State, Marco Rubio, confirmed from India that there had been "some progress" and that there might be news later that same day.
Trump specified that "the final aspects and details of the agreement are currently being discussed and will be announced soon."
The crisis in the Strait was triggered on February 28, 2026 when the United States and Israel launched coordinated attacks against Iran, after which Tehran ordered the closure of the maritime route to commercial traffic. The impact was immediate: daily ship traffic fell from about 150 to less than 20, around 150 ships were left anchored, and the price of Brent crude rose from 67 dollars to exceed 120 dollars.
The International Energy Agency characterized the episode as "the largest supply disruption in the history of the global oil market," and its member countries released 400 million barrels from strategic reserves.
The previous diplomacy was intense and tumultuous. On May 3, Iran sent a 14-point plan to Washington that included a 15-year moratorium on uranium enrichment and the reopening of the Strait. Trump rejected it on May 11, deeming it "completely unacceptable."
On May 4, the United States launched Operation "Project Freedom" to escort ships through the strait, but Trump paused it two days later, citing "significant progress" in the negotiations. On May 17, the president warned that Iran "was running out of time" to reach an agreement.
Israel, although it is not listed as a signatory of the memorandum with Iran, was consulted directly by Trump, who described his call with Netanyahu as a conversation that "went very well."
The Strait of Hormuz is the world's main oil choke point: approximately 20% of the world's oil passes through it, along with a significant portion of liquefied natural gas, making its closure a direct threat to the global economy for nearly three months.
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