President Donald Trump said on Thursday that Iran’s Supreme Leader, Mojtaba Khamenei, has approved a U.S. deal that would reopen the Strait of Hormuz and lift the American naval blockade on Iranian ports.
Trump made the statement to reporters at the White House. When asked directly whether Khamenei had approved the agreement, he replied: “I understand the answer is yes.”
He described the pact as “a very strong memorandum of understanding” that remains “a little conceptual” but “is something that’s going to get done.”
The proposed deal centers on two immediate steps: the full reopening of the Strait of Hormuz, the narrow waterway through which about one-fifth of global oil and liquefied natural gas passed before the conflict, and the removal of the U.S. blockade imposed after Iran restricted shipping earlier this year.
The Conflict
The 2026 Iran war began on Feb. 28 with U.S. and Israeli strikes that killed former Supreme Leader Ali Khamenei and targeted Iranian nuclear, missile, and military sites. Mojtaba Khamenei succeeded his father amid the fighting.
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Iran responded with missile and drone attacks across the region and disrupted traffic through the Strait of Hormuz. The United States imposed a naval blockade on Iranian ports.
A ceasefire took hold in April, but sporadic strikes continued and the blockade remained in place, driving up global oil prices and disrupting energy markets.
Negotiations, conducted indirectly, have focused on a limited initial agreement to restore shipping and ease economic pressure before addressing broader issues such as Iran’s nuclear program, sanctions relief, and regional proxy groups.
Iranian Response
IRNA reported that no final decision had been made on any agreement with the United States and that Tehran would not compromise on its core demands.
Officials in Tehran have repeatedly stated that any deal must include concrete sanctions relief and respect Iran’s security interests.
The gap between Trump’s public optimism and Iran’s more cautious stance has been a recurring feature of previous rounds of negotiations.
Also Read: Panic in Tehran as Iran Reaches Out to Trump During Heavy U.S. Missile Strikes
Market Impact
Oil prices fell following Trump’s comments as traders bet on the restoration of shipping flows through the Strait of Hormuz. Brent crude dropped more than 2% in early trading.
Shipping companies and energy importers have closely monitored the situation, with delays and higher insurance costs affecting global supply chains since the blockade began.
Israel has expressed concerns about any agreement that does not fully dismantle Iran’s nuclear capabilities or curb its support for armed groups in Lebanon and elsewhere.
Israeli officials have continued military operations in the West Bank and against Hezbollah-linked targets in recent weeks.
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