Trump announces deal with Iran

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President Trump announced Sunday that his administration has reached a deal with the Iranian government, signaling a potential end to a three-and-a-half month conflict in the Middle East.

“The Deal with the Islamic Republic of Iran is now complete,” Trump wrote on his Truth Social platform. “Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!”

Pakistani Prime Minister Shehbaz Sharif, who has mediated talks between Washington and Tehran, wrote Sunday on the social platform X that an official signing ceremony will take place on Friday in Switzerland.

Negotiations between the U.S. and the Islamic Republic have stalled throughout the president’s second term in office, culminating in joint U.S.-Israeli strikes on Iran at the end of February. That threw the wider region into conflict.

It also led to the Iranian military restricting shipping through the Strait of Hormuz, through which one-fifth of the world’s oil flows. That rocked the global energy industry, with gas prices in the U.S. rising from less than $3 two days before the war to more than $4.07 as of Sunday, according to the American Automobile Association.

The U.S. imposed a naval blockade of Iranian ports in mid-April, in an attempt to hamper the Iranian economy in retaliation for the closure of the strait. A Pentagon official told The Hill on May 1 that the blockade had cost Iran roughly $4.8 billion in oil revenue.

The Hill has reached out to the White House for further details on the deal with Iran.

A senior Iranian official told Reuters that a final draft of a memorandum of understanding calls for the U.S. to refrain from imposing new sanctions on Iran until a final deal is reached and release $25 billion of frozen Iranian assets.

The official also told Reuters that under the draft agreement, Tehran would agree to neither produce nor acquire nuclear weapons and refrain from further uranium enrichment and expansion of its nuclear facilities.

The Islamic Republic would also reportedly be able to dilute its stockpile of highly enriched uranium on its own oil under a future comprehensive agreement.

Sharif said that under the deal, both sides “have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon,” referring to Israel’s military campaign against the Iranian-backed militant group Hezbollah in Lebanon.

The Israeli strikes on Lebanon have resulted in a mounting death toll and threatened negotiations between the U.S. and Iran.

Sharif specifically thanked the U.S. and Iranian governments “for their commitment to finding a diplomatic solution to the conflict.” He also thanked the governments of Qatar, Saudi Arabia and Turkey for their support during the diplomatic process.

The Pakistani prime minister did not directly mention Israel in his statement, and he tagged a variety of U.S. and Iranian officials — including Trump, Vice President Vance, Secretary of State Marco Rubio, Special Envoy Steve Witkoff, Iranian President Masoud Pezeshkian, Iranian Parliament Speaker Mohammad Bagher Qalibaf and Iranian Foreign Minister Abbas Araghchi.

“With the agreement now in place, mediators will facilitate a series of meetings this week,” Sharif added. “These pre-implementation discussions will lay the foundation for the technical talks and the official signing ceremony.”

The U.S. and Iran have operated under a tenuous ceasefire since April 7, despite both sides launching strikes against the other.

Last week, American forces carried out strikes on Iran in response to the latter’s forces shooting down a U.S. Apache helicopter. U.S. forces rescued the two crew members of the helicopter.

The conflict has resulted in the deaths of between 8,351 and 17,685 individuals, including between 1,779 and 3,757 civilians, according to MilitarySpend. The vast majority of civilians that have been killed were in Iran, while 13 U.S. service members have died during the war.

Updated at 6:44 p.m. EDT

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