Iran latest: Peace deal would reopen Strait of Hormuz, officials say

Peace between the United States and Iran could be closer than any time since the start of the war back in February, but the leaders of the two nations disagree on how close it is. 

On Saturday night, President Donald Trump posted an optimistic message that "an agreement has been largely negotiated," and went on to say the accord just needed to be finalized by the U.S., Iran as well as several other Middle Eastern countries. 

The Strait of Hormuz would reopen under the terms of the agreement, Trump indicated. At least 6,000 ships have been blocked from passing through the strait since the beginning of the conflict, Britain’s Armed Forces Minister Al Carns stated recently.

Trump did not provide other details of the terms of the agreement, including whether Iranian leaders had agreed to dismantle their nuclear program.

A view of the Iranian Space Research Center in Tehran, Iran, on May 4, 2026. The center was destroyed during a U.S.-Israeli military operation. (Photo by Morteza Nikoubazl/NurPhoto via Getty Images)

Following Trump’s announcement, Iran’s Fars news agency stated the agreement would give Iran the ability to manage the strait, according to Reuters. The Iranian media outlet also described the president’s framing that the agreement was nearly done as "inconsistent with reality."

The announcement capped a week in which the U.S. weighed a new round of attacks on the Islamic Republic that would break a fragile ceasefire. Twelve weeks have passed since the U.S. and Israel attacked Iran on Feb. 28, killing top Iranian officials including its supreme leader and interrupting nuclear talks between the U.S. and Iran for the second time in less than a year. Iran fired at Israel and at neighbors hosting U.S. forces, shaking Gulf nations that had considered themselves safe havens in a tough region.

A ceasefire has held since April 7.

Here’s the latest:

"Significant progress, although not final progress" 

8:37 a.m. ET: Secretary of State Marco Rubio cautioned Sunday that "significant progress, although not final progress has been made" in the negotiations.

Rubio said he hoped that there would be good news in the coming hours.

The negotiations have succeeded in one of Trump’s main aims, Rubio said, "that is a world that no longer has to be in fear or worry about an Iranian nuclear weapon."

Trump said on Saturday he had spoken with leaders from Saudi Arabia, the United Arab Emirates, Qatar, Pakistan, Turkey, Egypt, Jordan and Bahrain, and separately with Israel.

Trump: Iran deal has been 'largely negotiated'

President Trump announced Saturday that a deal with Iran has been "largely negotiated" and details of the proposed agreement would be announced "shortly." Trump said in a social media post that he spoke with several leaders in the Middle East, including Israel's Benjamin Netanyahu. The president also said that the deal would include opening the Strait of Hormuz. 

What's in the deal? 

8:30 a.m. ET: The potential deal will include Iran’s commitment that it won’t pursue a nuclear weapon, and Tehran agreed to give up its stockpile of highly enriched uranium, according to two regional officials.

One official, with direct knowledge of the negotiations, said how Iran will give up its highly enriched uranium is a subject of further negotiations over the course of a 60-day period.

It’s highly likely that a part of the amount will be diluted, while the rest will be transferred to a third country, potentially Russia, he said.

Iran has 440.9 kilograms (972 pounds) of uranium that is enriched up to 60% purity, a short, technical step from weapons-grade levels of 90%, according to the International Atomic Energy Agency.

The Strait of Hormuz will be gradually open in parallel with the U.S. ending its blockade of Iran’s ports, said the official.

The U.S. will also allow Iran to sell its oil through sanctions waivers, said the second official who has been briefed on the negotiations. Sanctions relief and release of Iran’s frozen funds will be negotiated during the 60-day time frame, he said.

Both officials said the draft deal includes an end of the war between Israel and Hezbollah, as well as a commitment of not interfering in the domestic affairs of countries in the region. The officials spoke on condition of anonymity to discuss closed-door deliberations.