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Jun 16, 20261
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Trump Announces Strait of Hormuz Will Be Fully Open by Friday Following Iran Deal

President Trump announced at the G7 summit that the Strait of Hormuz will be fully open by Friday following a finalized agreement with Iran. The deal, which progresses to a second stage, prevents Iranian nuclear weapons development and has halted military operations across multiple fronts. Trump criticized Israel's handling of its Lebanon and Hezbollah situation.

Quick Facts
Who
Donald Trump
What
Trump announces Strait of Hormuz will be fully open
When
Sunday (MoU finalized)
Where
Strait of Hormuz
- Trump announces Strait of Hormuz will be fully open
- Iran-US memorandum of understanding finalized and digitally signed
- Oil shipments resuming
- Oil prices declining
- Military operations halted across multiple fronts
US President Donald Trump declared on Tuesday that the Strait of Hormuz will be fully opened by Friday, citing a recently finalized agreement with Iran. Speaking at the G7 summit in Evian, France, Trump reported that maritime traffic is resuming and oil prices are declining rapidly as a result of the deal. He emphasized that the most critical outcome of the agreement is that Iran will not develop a nuclear weapon.
Trump stated that the United States and Iran have completed their initial agreement, which will progress to a second stage that he believes will be easier to implement. He dismissed reports of a $300-billion fund for Iran's reconstruction, calling such claims a rumor and clarifying that the United States is not providing financial investment to Iran. The memorandum of understanding between the two nations was finalized on Sunday and digitally signed on Monday, with both sides announcing the reopening of the strategic waterway and a halt to military operations across multiple conflict zones, though key implementation details remain disputed.
During his remarks at the G7 summit, Trump also expressed dissatisfaction with Israel's conduct toward Lebanon and Hezbollah, urging Israeli Prime Minister Benjamin Netanyahu to adopt a more responsible approach in the region. Trump characterized the Iran agreement as restoring stability to global markets, while Iranian officials have described the deal as a triumph over Washington and Israel.
The G7 summit, which began Monday in Evian on Lake Geneva's shores in eastern France, is scheduled to run for three days and addresses multiple international issues including the Ukraine crisis, Middle East tensions, and artificial intelligence development.
Why This Matters
This Iran-US agreement represents a major shift in Middle East geopolitics with immediate economic consequences. The reopening of the Strait of Hormuz—a critical global energy chokepoint through which roughly one-third of seaborne oil passes—directly impacts oil prices, energy security, and supply chains worldwide. For investors, businesses, and governments, the halting of military operations and the prospect of nuclear restraint reduce regional volatility and uncertainty, though implementation disputes signal ongoing risks.
Timeline & Sources
Jun 14, 2026
WireG7 summit begins in Evian, France
Jun 15, 2026
WireIran-US memorandum of understanding finalized
Jun 15, 2026
WireMoU digitally signed
Jun 16, 2026
WireTrump announces at G7 that Strait of Hormuz will be fully open by Friday and criticizes Israel's Lebanon policy
Jun 20, 2026
WireProjected date for full opening of Strait of Hormuz