Trump announces Iran agrees to indefinitely suspend nuclear program and reopen Strait of Hormuz
President Donald Trump announced that Iran has agreed to indefinitely suspend its nuclear program, a development tied to the reopening of the Strait of Hormuz amid ongoing U.S.-Iran conflict. In a Friday phone interview with Bloomberg, Trump described the deal as mostly complete, with no frozen U.S. funds going to Tehran in exchange, and predicted further talks this weekend to finalize a lasting agreement.[1][2]
The Strait of Hormuz, a critical chokepoint for global oil shipments, was announced open to commercial traffic by Iran, though coordination with Iran's Revolutionary Guard Corps is required and a U.S. naval blockade will continue for now. This follows a U.S. and Israeli bombing campaign in late February that targeted Iranian nuclear facilities, burying over 900 pounds of highly enriched uranium underground. Oil, fuel, and natural gas prices plunged on news of potential safer energy transit through the strait, while U.S. stocks closed higher amid optimism.[3][1]
Trump's claims come after peace talks in Islamabad last weekend failed over disagreements on Iran's nuclear ambitions, with the president now threatening to block any ceasefire extension unless a deal is reached. Vice President JD Vance led those discussions, and Trump named Vance, son-in-law Jared Kushner, and envoy Steve Witkoff as possible participants in upcoming negotiations. Iran has not yet commented on the suspension or Trump's assertions of concessions.[1]
Earlier reports suggested the U.S. was weighing a plan to unfreeze $20 billion in Iranian assets in exchange for the enriched uranium stockpile, but Trump explicitly ruled that out, emphasizing no financial relief for Tehran. This stance contrasts with Axios reporting on potential options, underscoring the administration's hardline approach despite the reported progress.[2]
The announcement fuels hopes of ending a war that disrupted global energy markets and heightened Middle East tensions, affecting millions reliant on stable oil supplies and shipping routes. Reopening Hormuz could ease inflationary pressures worldwide, but persistent U.S. blockades and Iran's silence introduce uncertainty about implementation.
What happens next hinges on weekend talks: a successful deal could lead to de-escalation, reduced military presence, and normalized commerce, while failure risks renewed hostilities. Global markets and allies like Israel will watch closely, as the outcome shapes regional stability and U.S. foreign policy under Trump.[1]