Trump says US, Iran reach peace deal, Strait of Hormuz to open on Friday

Islamabad : The US and Iran finalised a deal to end their 107-day war and open the Strait of Hormuz, the narrow waterway used to ferry one-fifth of the global oil supplies, on Friday after an in-person signing of the agreement in Switzerland.

US President Donald Trump made the announcement on Truth Social on Sunday evening, easing pressure on the global energy markets, as officials said the peace agreement would be signed on June 19 in Switzerland.

"The Deal with the Islamic Republic of Iran is now complete. Congratulations to all," Trump said, adding that it would reopen the Strait of Hormuz and end the US naval blockade on Iranian ports.

"I hereby fully authorise the toll-free opening of the Strait of Hormuz and, simultaneously, authorise the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!" Trump said.

However, in a subsequent post, Trump said the Strait of Hormuz will open on Friday after the official signing of the agreement.

The finalisation of the deal, on a day when Trump turned 80, capped a tumultuous week of war and diplomacy when the US carried out strikes on Iran and the US president, at the last minute, backed off a threat to take control of the Kharg Island, the oil export hub of the Islamic Republic.

"This Great Deal will bring Peace and Security to the whole Region. Many presidents have tried to make Peace with Iran, and all have failed before me," Trump said.

"The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace. With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World," he said.