The United States and Iran have reached a memorandum of understanding that will reopen the Strait of Hormuz to international shipping and allow nuclear inspectors to return to Iranian facilities, according to multiple reports from across the political spectrum. The agreement marks a significant diplomatic development following a period of heightened military tension between the two countries.

President Trump, speaking at the G7 summit, said the deal would 'bring a lot of success to the world,' and confirmed that a demining process in the Strait of Hormuz was already underway, with the waterway expected to be fully operational by Friday. The strait is a critical chokepoint for global oil supplies, and its closure had rattled energy markets in recent weeks.

Vice President JD Vance provided additional details, revealing that Iran faces a 60-day deadline to meet the terms of the agreement and that nuclear inspectors would be permitted to return as part of the arrangement. Vance indicated that Trump's broader strategic approach shaped the deal's structure, though specifics of what consequences Iran would face for non-compliance were not elaborated upon publicly.

The memorandum of understanding is regarded as a preliminary framework rather than a final treaty. PBS and the AP outlined key elements of what the agreement covers, including provisions related to ending hostilities and restoring a degree of diplomatic engagement. The full text of the deal has not been released, drawing calls from some quarters for greater transparency about its precise terms and verification mechanisms.

The agreement comes after weeks of conflict involving Iran, Israel, and regional proxy forces, and represents a notable shift in the trajectory of US-Iran relations. International reaction, including from G7 partners, is expected to develop in the coming days as more details of the deal's implementation timeline emerge.