Trump says Iran deal signed, Strait of Hormuz to fully reopen

President Donald Trump announced Monday that an agreement with Iran has been signed, declaring the Strait of Hormuz would be "fully open" by Friday. The text of the deal is expected to be released after a formal signing ceremony on Friday, with U.S. Vice President JD Vance slated to attend.

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The deal's all signed. And the strait is already partially opened, as you know. On Friday, it'll be completely open.

"The deal's all signed. And the strait is already partially opened, as you know," Trump told reporters in Evian, France, ahead of the G7 meeting. "On Friday, it'll be completely open." He added that any sanctions relief for Tehran is contingent on their behavior, stating, "If they do what they're supposed to do, that starts taking effect."

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The deal's all signed. And the strait is already partially opened, as you know. On Friday, it'll be completely open.

The agreement, reached after more than two months of negotiations, reportedly includes reopening the blockaded strait and extending a ceasefire for a 60-day negotiation period. This period is intended to address contentious issues, including Iran's nuclear program. However, the immediate fate of the pact could be influenced by ongoing conflict in Lebanon, where Israel has been engaged with the Iran-aligned Hezbollah movement. Iran has indicated that the deal requires a cessation of hostilities on all fronts, including Lebanon.

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The deal's all signed. And the strait is already partially opened, as you know. On Friday, it'll be completely open.

News of the potential de-escalation sent oil prices tumbling and stock markets soaring. Despite Trump's announcement, the U.S. military had not yet lifted its blockade of Iranian ports, and there was no immediate response from Tehran regarding the reported signing.

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If they do what they're supposed to do, that starts taking effect.