Trump Weighs Iran Peace Deal Amid Strait of Hormuz Crisis

The United States and Iran are negotiating a tentative memorandum of understanding to end a conflict that began on February 28, 2026, with U.S. and Israeli strikes. The proposed deal focuses on a 60-day ceasefire extension and the reopening of the Strait of Hormuz, which has been closed by Iran and subject to a U.S. naval blockade. Under the draft framework, Donald Trump would oversee the withdrawal of U.S. forces and the lifting of the blockade in exchange for Iran restoring commercial shipping to pre-war levels within one month.

Diplomatic efforts mediated by Pakistan and Qatar have centered on several sticking points, including the release of $12 billion in frozen Iranian assets and the dismantling of nuclear sites at Natanz, Fordow, and Isfahan. While Iranian officials such as Mohammad Bagher Ghalibaf warned that resuming war would be crushing for America, the U.S. conducted several defensive strikes in Hormozgan province and Bandar Abbas on May 26 and 28, targeting drones and missile sites. Trump has characterized these as necessary protections for maritime traffic, while Iran labeled them ceasefire violations.

Recent reports of a finalized deal caused oil prices to fluctuate sharply, though the White House repeatedly dismissed Iranian state media claims of a breakthrough as a complete fabrication. Trump has maintained that Iran must not possess nuclear weapons and has linked a final agreement to the expansion of the Abraham Accords. The deal remains unofficial and awaits final approval and potential codification by the United Nations Security Council.