Chicago – May 23, 2026
President Donald Trump has announced that a peace agreement with Iran has been “largely negotiated,” with the Strait of Hormuz set to reopen as part of the deal. Trump made the remarks on his social‑media platform, saying final details of a “Memorandum of Understanding pertaining to peace” are still being worked out among the United States, Iran, and several regional partners.
According to multiple reports, the draft arrangement would effectively end the U.S.–led military campaign against Iran and lift the blockade on Iranian ports, restoring full access to the Strait of Hormuz, a chokepoint for a large share of global oil shipments. Officials in Washington and allied Gulf capitals have described the talks as critically advanced, though no formal text has been signed yet and Iran has not publicly confirmed the specifics.
Analysts warn that even if the Strait reopens, implementation of the deal—especially regarding Iran’s nuclear program and regional security guarantees—will be the key test of a lasting de‑escalation.
