Trump and Vance announce Iran deal to reopen Strait of Hormuz

President Trump and Vice President JD Vance have announced a peace deal with Iran that aims to fully reopen the Strait of Hormuz to oil tanker traffic by Friday. Trump claimed tankers are already passing through the strait, though visible traffic remains limited. Vance said he will lead a U.S. team to Switzerland to formally sign the agreement, and that the deal may be released before Friday.

The deal reportedly includes U.S. and IAEA assistance to help Iran destroy its enriched uranium. The Strait of Hormuz would be toll-free under the agreement, according to the U.S. However, a major tanker company warned that the deal must be "material" — meaning concrete and verifiable — before it will resume shipping through the strait. Some lawmakers, like Lee, welcomed the peace deal and expressed hope for the resumption of normal passage.