He Declares Strait of Hormuz ‘Permanently Toll Free’ as Oil Markets React.
Washington DC, 15 June 2026-President Donald Trump has announced a US-Iran peace agreement that ends 100 days of retaliatory airstrikes and reopens the Strait of Hormuz, calling it the start of “lasting stability” in the Middle East.
In a post on Truth Social earlier today, Trump said the deal with the Islamic Republic of Iran is “now complete” and immediately authorized the reopening of the Strait of Hormuz which carries about one fifth (20%) of the world’s oil supply and the removal of the US naval blockade.
“The deal with the Islamic Republic of Iran is now complete. I hereby fully authorize the toll-free opening of the Strait of Hormuz, and simultaneously authorize the immediate removal of the US naval blockade. Ships of the world, start your engines. Let the oil flow,” Trump wrote.
He added that the route will be “permanently toll free” and credited mediators Qatar, Pakistan, Saudi Arabia and Turkey for the breakthrough.
The formal signing ceremony is scheduled for Friday, 19 June in Switzerland.
Expected signatories include US Vice President JD Vance, Iran’s Chief Negotiator General Mohammad Bagher Ghalibaf, and Foreign Minister Abbas Araghchi.
The agreement includes an immediate military ceasefire across all fronts. That covers a halt to Israeli strikes on Hezbollah in Lebanon, according to the White House statement. A 60-day negotiation period will follow to address Iran’s nuclear program.
International media reported one key term: the US will release approximately $25 billion in frozen Iranian assets in exchange for Iranian commitments not to pursue or acquire nuclear weapons. Tehran is seeking half of its frozen funds before final talks with Washington begin.
Oil prices dropped more than $4 per barrel on news the Strait of Hormuz would reopen, and global financial markets surged on expectations that shipping routes will be restored.
UN Secretary-General António Guterres welcomed the framework, calling it a “critical step” toward ending the conflict. He thanked Pakistan, Qatar, Saudi Arabia and Turkey for mediating and said the UN “stands fully prepared to assist both parties in hammering out a comprehensive, durable peace.”
Leaders from the UK, Japan, Australia and New Zealand also welcomed the deal as a move toward broader regional stability. Pakistan and Qatar applauded it as a step toward “peace and lasting tranquillity.”
Israel said its forces will remain in Lebanon despite the ceasefire provisions. Trump said the deal puts an end to decades of US-Iran hostility.
“Many presidents have tried to make peace with Iran, and all have failed before him,” he said. “The leaders of the region have, for the first time, found a president who can help them achieve real peace.”
Trump said oil would “flow on both ends again for the region, and the rest of the world” once the Strait is reopened for mine removal on Friday.
