US President Donald Trump announced a potential peace agreement with Iran that could be finalized over the weekend, leading to the reopening of the Strait of Hormuz. While Iranian officials caution that no final decision has been made, the deal aims to end hostilities, prevent Iran from pursuing nuclear weapons, and lift sanctions. The announcement triggered a global market rally and a drop in oil prices, though military tensions remain high near the vital waterway.
US President Donald Trump announced that a deal with Iran could be signed as soon as this weekend, possibly as early as over the coming days.
Speaking from the Oval Office, Trump indicated that the agreement would prompt the official reopening of the Strait of Hormuz, a critical waterway for global oil shipments that Iran had effectively closed, causing sharp increases in energy prices and threatening international trade. The President added that Vice President JD Vance would attend the signing ceremony, expected to take place in Europe.
While Trump stated he understood that Iran's Supreme Leader Ayatollah Ali Khamenei had approved the deal, Iranian officials have been more cautious. Foreign Ministry spokesman Esmaeil Baghaei confirmed that large parts of the agreement are finalized but stressed that Iran will not compromise on its red lines, noting that a final conclusion has not been reached and the matter remains under review by relevant decision-making bodies.
The announcement follows a period of intense military exchanges between the United States and Iran, including strikes that strained a ceasefire announced in April. In recent days, US forces shot down two Iranian one-way attack drones after Tehran attempted to target commercial ships transiting the Strait of Hormuz. Separately, Iranian military forces intercepted a tanker trying to pass through the strategic chokepoint, with state media reporting explosions heard early Friday.
Despite these escalations, Trump called off planned additional military strikes on Iran, citing progress in negotiations. The President has consistently insisted that any deal must prevent Iran from developing nuclear weapons, a claim Tehran denies pursuing. Iran's demands include the lifting of crippling international sanctions, the release of billions in frozen assets, and formal recognition of its sovereignty over the Strait of Hormuz.
During a telephone campaign event, Trump emphasized that the core guarantee is thatIran will neither develop nor purchase nuclear weapons. Markets reacted positively to news of a potential settlement, with Asian stocks joining a global rally and oil prices dropping to two-month lows on Friday. The potential de-escalation offers relief to economies burdened by high fuel costs and comes amid growing political pressure on the White House.
Polls indicate Trump's approval ratings have declined due to voter frustration over energy prices and the war's unpopularity. Some Republicans worry the conflict could hurt their chances in November's midterm elections. At the same time, Trump must satisfy Iran hawks within his party, who previously blocked a similar agreement, by ensuring the deal permanently dismantles Tehran's nuclear enrichment capabilities. Trump claimed on social media that key regional allies-Israel, Saudi Arabia, Qatar and the United Arab Emirates-have approved the agreement.
However, Israel's Prime Minister Benjamin Netanyahu's office clarified that Israel is not a party to the memorandum of understanding with Iran. Netanyahu did express appreciation for Trump's commitment to a robust deal that includes removing enriched uranium, dismantling enrichment infrastructure, limiting missile production, and ending Iranian support for proxy forces. Parallel fighting continues between Israel and Iran-backed groups in Lebanon, adding complexity to the regional security landscape
Please follow us on Google to support us Iran Deal Strait Of Hormuz Trump Administration Nuclear Agreement US Iran Relations Middle East Conflict
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European shares steady as investors weigh US-Iran flare-upIseq edges down with Ryanair also falling
Read more »
Fifa chief addresses Iran, ticket prices, visa problems in Mexico CityFifa president Gianni Infantino addressed Iran's participation in the World Cup, ticket prices, and visa issues at an event in Mexico City.
Read more »
Oil Price Rises Amid Tensions Between US and Iran Over Strait of HormuzThe international oil benchmark, Brent crude, rises 1.7% as traders worry about a potential return to wider conflict between the US and Iran, following the US launching additional self-defence strikes against Iranian military targets and Iran closing the Strait of Hormuz to all vessels.
Read more »
‘I love the inflation,’ Trump says as prices rise amid Iran warRepublicans fear inflation backlash could hurt midterm election prospects
Read more »