'Let the oil flow': Trump declares Iran peace deal complete, clears way for Strait of Hormuz reopening

US President Donald Trump on Sunday declared that a peace deal with Iran had been completed and said he was authorising the reopening of Strait of Hormuz and the removal of a US naval blockade.

"The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!" Trump wrote on his Truth Social platform. "I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade."

"Ships of the World, start your engines. Let the oil flow!" he added.

In another post, Trump described the accord as a breakthrough that would bring "Peace and Security to the whole Region" and said the Strait of Hormuz would reopen upon the signing of the agreement on Friday to facilitate mine-clearing operations and the resumption of oil shipments.

The White House did not immediately release the text of the agreement, and Iran suggested implementation would not begin until the formal signing ceremony.

Pakistan first announced the deal, with Prime Minister Shehbaz Sharif saying on X that the United States and Iran had agreed to the "immediate and permanent termination of military operations on all fronts, including in Lebanon."

Sharif said the agreement would be formally signed on June 19 in Switzerland and thanked Qatar, Saudi Arabia and Turkey for their roles in mediation efforts.

The announcement followed months of conflict that began on February 28 when Israel, along with the United States, launched military operations against Iran.

Israel has remained skeptical of the negotiations and there was no immediate comment from Israeli officials after Trump's announcement.

A day before Pakistan announced the deal, Israel attacked Beirut's southern suburbs while pursuing the Iranian-backed Hezbollah group.

An Iranian deputy foreign minister said that Iran's armed forces were "fully prepared to give a decisive response to Israel's actions."

Iran has pressed for any ceasefire arrangement to include Lebanon, where Israel has expanded its military campaign deeper than at any point in more than 25 years.

Iranian state television later quoted the secretariat of the country's Supreme National Security Council as saying that the war on all fronts "will end immediately and permanently beginning tonight" and that the US blockade "will be terminated immediately and in full."

It remained unclear who would sign the agreement on Iran's behalf.

US Vice President JD Vance told Fox News that the White House was still determining its delegation for Friday's ceremony.

"I certainly plan to be there, but it's possible the president himself could be there," Vance said.