Trump Hopes Iran Will Fully Open Strait of Hormuz Starting Friday

US President Donald Trump has stated that his administration has signed a preliminary peace agreement with Iran and expressed hope that the Strait of Hormuz will be reopened “fully” for commercial shipping starting Friday (19/6/2026). “I think many extraordinary things will happen in the Middle East; most importantly, oil prices will drop significantly and the stock market will soar like a rocket today,” Trump said while seated alongside French President Emmanuel Macron during their bilateral meeting before the G7 Summit began in Evian-les-Bains, France, on Monday (15/6/2026). However, a senior US official—who spoke to the media while Trump delivered his opening remarks—said it is unlikely that traffic in the Strait of Hormuz will return to normal within two weeks. Trump said the draft memorandum of understanding with Iran may be released shortly after Friday (19/6/2026), when the two countries will formalise the agreement in Switzerland. In the memorandum, Trump added that the Strait of Hormuz—a critically important global shipping lane—will be free of toll charges and that he will not consider easing sanctions on Iran until the country fulfils its obligations. A day after announcing the agreement to cease hostilities, reopen maritime routes, and lift the US naval blockade of Iranian ports, Trump reiterated that the most important thing now is that Iran will not have nuclear weapons. According to the senior US official, the memorandum was signed by Trump, US Vice President J.D. Vance, and Iranian Parliament Speaker Mohammad Bagher Qalibaf as the leader of Iran’s negotiating delegation with the US. The official added that the memorandum explicitly states that the narrow waterway will be opened for 60 days without toll charges, with the US hoping this provision will become part of a final agreement with Iran.