On May 29, 2026, President Donald Trump stated that he is convening in the Situation Room to make a final determination regarding a potential deal with Iran to end the ongoing war. In a post on Truth Social, Trump listed several conditions that Iran must meet, including a commitment to never develop nuclear weapons and the immediate opening of the Strait of Hormuz to unrestricted shipping traffic without tolls. He indicated that the U.S. naval blockade against Iran in the Gulf of Oman would be lifted, although it was unclear if this would occur only if the conditions were met.
Trump also mentioned that enriched material from last year's attacks on Iran's nuclear facilities would be destroyed in coordination with Iran and the International Atomic Energy Agency. He emphasized that no financial transactions would take place until further notice and noted that other less significant items had been agreed upon.
Iranian state news outlet Fars responded to Trump's statements, asserting that they contradict the current agreement's provisions. They claimed that the draft deal does not include clauses about dismantling nuclear materials or the toll-free status of the Strait. Fars highlighted that the most critical aspect of the agreement is the immediate payment of $12 billion of Iran's frozen assets, which they stated is a prerequisite for further negotiations.
The White House did not immediately comment on Trump's post or the Fars response. A White House official confirmed that U.S. and Iranian negotiators are working on a 60-day memorandum of understanding to extend the ceasefire and establish nuclear talks. This memorandum would also lift restrictions in the Strait of Hormuz and require Iran to remove all mines within 30 days.
Recent developments include Iran launching a ballistic missile toward Kuwait and deploying drones in the region, while the U.S. Treasury announced new sanctions against Iran. Iranian officials have expressed defiance toward U.S. threats and emphasized their regional alliances, particularly with Oman, which has been involved in discussions about tolls in the Strait of Hormuz. Trump had previously warned Oman about potential consequences for facilitating tolls in the strait.