Trump Hopes Iran Will Fully Open Strait of Hormuz Starting Friday

US President Donald Trump has stated that his administration has signed a preliminary agreement regarding peace with Iran. He expressed hope that the Strait of Hormuz will be fully reopened for commercial shipping starting Friday (19/06/2026).

“I think many extraordinary things will happen in the Middle East region; most importantly, oil prices will drop significantly and the stock markets will soar like a rocket today,” said Trump while seated with French President Emmanuel Macron during their bilateral meeting before the G7 Summit commenced in Evian-les-Bains, France, on Monday (15/06/2026).

However, a senior US official—speaking to the media while Trump delivered his opening remarks—stated that it is unlikely that traffic in the Strait of Hormuz will return to normal within two weeks.

Trump mentioned that a draft memorandum of understanding with Iran might be released shortly after Friday (19/06/2026), when both nations are set to formalise the agreement in Switzerland. In the memorandum, Trump added that the Strait of Hormuz—a vital global shipping lane—will be free of transit fees, and he will not consider easing sanctions on Iran until the country fulfils its obligations.

One day after announcing the agreement to cease hostilities, reopen maritime routes, and lift the US naval blockade on Iranian ports, Trump reaffirmed that the most critical priority remains ensuring that Iran does not possess nuclear weapons.

According to the senior US official, the memorandum has been signed by Trump, US Vice President J.D. Vance, and the Speaker of the Iranian Parliament, Mohammad Bagher Qalibaf, as the leader of the Iranian negotiating delegation. The official further noted that the memorandum explicitly states that the narrow waterway will be opened for 60 days without toll fees, with the US hoping this provision will become part of the final agreement with Iran.