President Donald Trump said Iran has agreed to suspend its nuclear program indefinitely as part of a developing deal to end hostilities with the U.S. and Israel, with further talks expected this weekend. The announcement comes amid easing tensions in the Strait of Hormuz and a sharp decline in global energy prices.
- Trump said most terms of a deal with Iran are finalized, with additional negotiations expected over the weekend.
- The president stated Iran’s nuclear program would be halted with no time limit, while denying reports of any financial payments.
- The U.S. plans to work with Iran to recover enriched uranium and transport it out of the country.
- A U.S. naval blockade targeting Iran will remain in place until a final agreement is completed.
- Iran has not publicly confirmed the nuclear terms but has announced the Strait of Hormuz is open during the ceasefire period.
- Shipping groups are assessing conditions in the strait, including safety and coordination requirements.
- Oil, diesel, and natural gas prices declined sharply as expectations of resumed energy flows increased.
- Roughly 20% of global oil and LNG supply transits through the Strait of Hormuz under normal conditions.
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Editor’s Note: This is a developing story. This article may be updated as more detail
