President Donald Trump announced on May 23, 2026, that a broader agreement between the United States and Iran has been 'largely negotiated' and indicated that the Strait of Hormuz would be reopened. Trump shared this information on Truth Social, stating that the agreement is subject to finalization among the U.S., Iran, and other nations. However, Iran's state-affiliated Fars news agency disputed Trump's claims, asserting that the Strait of Hormuz would remain under Iranian control according to the latest proposal.
The proposed memorandum of understanding aims to end hostilities with Iran, gradually reopen the Strait of Hormuz, and lift the U.S. blockade of Iranian ports. It would also unfreeze some Iranian assets held in foreign banks and initiate a 30-day period for further negotiations regarding Iran's nuclear program, including its stockpile of near-weapons-grade uranium.
Trump noted that final details are still being worked out and that some aspects of the agreement may change. Fars News reported that while Iran has agreed to allow the number of vessels passing through the strait to return to pre-war levels, this does not equate to 'free passage' as it existed before the conflict.
The agreement is expected to unfold in two phases: the first phase would restore the Strait of Hormuz to its pre-war status and involve assurances from Iran not to pursue nuclear weapons, while the second phase would focus on detailed negotiations over nuclear issues and other broader topics.
Pakistan’s Prime Minister Shehbaz Sharif congratulated Trump on his efforts for peace but did not confirm any agreement regarding the Strait of Hormuz. Trump also mentioned a positive call with Israeli Prime Minister Benjamin Netanyahu regarding the negotiations. Trump expressed a 50/50 chance of reaching an agreement with Iran and indicated that he could decide by the following day whether to resume military action.
Criticism of the reported deal came from former Secretary of State Mike Pompeo, who compared it to previous agreements made during the Obama administration. In response, White House communications director Steven Cheung criticized Pompeo's remarks on social media.
