Trump says the US and Iran are close to reaching a peace agreement, and the Strait of Hormuz may reopen.

According to Mars Finance, on May 25th, The New York Times reported that US President Trump stated that the US and Iran had "basically reached an agreement," which may include ending the conflict, reopening the Strait of Hormuz, and lifting some of the blockade measures against Iran. However, significant differences remain between the two sides regarding the details of the agreement. According to several Iranian officials, Iran has agreed to a memorandum of understanding, which includes halting the multi-front conflict, including in Lebanon; restoring commercial navigation in the Strait of Hormuz without tolls; the US lifting the maritime blockade against Iran; and releasing approximately $25 billion in frozen Iranian overseas assets. US officials stated that one of the core aspects of the agreement is Iran's agreement in principle to relinquish its highly enriched uranium stockpile, but the specific handling method will be left to subsequent nuclear negotiations. Iran stated that the nuclear issue will continue to be discussed over the next 30 to 60 days. The report noted that since the US and Israel launched their attacks on Iran in February, the Strait of Hormuz has been blocked for a long time, putting continuous pressure on the global energy market. Currently, approximately 1,500 ships are stranded near the Persian Gulf, and even if the agreement is formally implemented, it may take weeks or even months for shipping to return to normal. Furthermore, Israeli Prime Minister Netanyahu has spoken with Trump multiple times. The United States, Saudi Arabia, Qatar, the United Arab Emirates, Pakistan, and other countries have also recently participated in the mediation efforts. Some Republican hawks in the United States have expressed concern about the agreement, arguing that allowing Iran to retain its nuclear capabilities would be a "catastrophic mistake."