finance
U.S. and Iran Report Progress on Deal to Reopen Strait of Hormuz
President Trump stated that a peace agreement with Iran has been largely negotiated and will be announced shortly. Secretary of State Marco Rubio said significant progress has been made in the past 48 hours and that further updates could come within hours.
May 24, 9:55 AM·1m read1 source
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President Trump stated that an agreement with Iran has been largely negotiated and will be announced shortly, with reopening of the Strait of Hormuz listed among its key components. Secretary of State Marco Rubio said significant progress has been made in the past 48 hours toward resolving the shipping disruption at the strait.
U.S. naval blockade, halt fighting involving Israel and Hezbollah, reopen the strait without tolls, and release $25 billion in frozen Iranian assets. U.S. officials said the framework includes a commitment by Tehran to give up enriched uranium, though the mechanism remains to be negotiated.
Iran's semi-official Fars news agency dismissed the claim of an imminent deal as far from reality and reported that management of the strait would remain under Iranian authority. Fars also stated that Iran's nuclear program, blocked funds, and the status of the strait remain serious points of disagreement.
Iranian state television cited Foreign Ministry spokesman Esmail Baghaei as saying the process has been moving toward a convergence of views over the past week.
