Agreement to end months of conflict could restore a vital global oil route and ease tensions between Washington and Tehran.
U.S. President Donald J. Trump has announced what he described as a historic peace agreement with Iran, marking a potentially significant breakthrough in relations between the two countries and paving the way for the reopening of the Strait of Hormuz, one of the world’s most important energy corridors.
Trump made the announcement directly to the American public, declaring that an agreement with the Islamic Republic of Iran had been finalised.
“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!” Trump said.
He added: “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!”
The development, if fully implemented, could have major implications for global energy markets, international shipping and regional stability, given the strategic importance of the Strait of Hormuz to the world’s oil trade.
Further details of the agreement are expected in the coming days.
