US President Donald Trump revealed that a peace agreement with Iran is set to be signed on Sunday, with the immediate reopening of the Strait of Hormuz following. Trump, speaking on Truth social, stated, “The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL.” He also mentioned Iran’s purported abandonment of nuclear ambitions and hinted at cooperation to eliminate enriched uranium at an “appropriate time.”
Trump emphasized that the deal’s signing would transform US-Iran relations for the better, cautioning that there are alternative measures if the process does not proceed swiftly and smoothly. Notably, Trump’s mention of the Strait of Hormuz holds significance for global markets, given its crucial role in energy transit, particularly for oil and natural gas trade. India, a major crude oil importer, closely watches developments in the region due to their impact on energy security and shipping expenses.
In a bid to differentiate the proposed agreement from the Obama-era nuclear deal, Trump highlighted that no financial transactions would be part of the arrangement. He underscored this by comparing it to the previous administration’s payments to Iran, stating, “no money will exchange hands.” Additionally, Trump suggested that any remaining nuclear material in Iran would be eliminated.
However, Iranian Foreign Ministry spokesperson Esmaeil Baqaei refuted claims of an imminent memorandum of understanding (MoU) signing with the US on Sunday, citing perceived hesitancy from the other party. Baqaei clarified that any potential MoU would serve as a basis for ongoing discussions rather than a final agreement. Iranian state media reported that talks on the nuclear issue are anticipated to continue over a 60-day period.
