Trump Weighs Final Iran Deal to Reopen Strait of Hormuz and Secure Ceasefire

President Donald Trump is weighing a “final” decision on Iran as U.S. officials signal that sanctions relief, a ceasefire, and a wider deal could still be on the table, but no agreement has been finalized. Bloomberg reported that Treasury Secretary Scott Bessent said the administration could remove some sanctions on Iran depending on how the standoff develops, while CBS News reported that a tentative understanding for a 60-day ceasefire and reopening of the Strait of Hormuz is awaiting approval from both Trump and Iranian leadership.

The latest round of diplomacy comes against the backdrop of continued tension at sea and competing claims about what has been agreed. Trump told reporters the United States had “very good talks” over the previous 24 hours and said it was “very possible” a deal could be reached, according to CBS News. He also said the ceasefire remained in effect even after U.S. strikes on Iranian targets, describing those attacks as “just a love tap,” CBS reported. The Independent reported that Trump said a naval blockade in the Strait of Hormuz would be lifted and promised a “final decision” on peace, but Iranian media said Tehran still had not lifted the blockade and rejected one of the reported terms.

The Strait of Hormuz has emerged as the key flashpoint in the talks because it is one of the world’s most important shipping routes, especially for oil and gas. Reports cited by The Independent said an unofficial framework under discussion would require Iran to restore commercial traffic through the strait to pre-war levels within a month, while the United States would withdraw military forces from around Iran and lift the blockade. Those terms, however, have not been confirmed by either government as a finished deal, and the White House has denied that some Iranian media reports on the framework were accurate.

Bessent’s comments suggest the Trump administration is keeping economic pressure in reserve while using the possibility of sanctions relief as leverage. That matters because U.S. sanctions have severely constrained Iran’s access to international banking and blocked some of its oil revenues, including funds held abroad, according to reporting cited by The Independent. Any easing of sanctions would therefore be one of the most consequential parts of a deal, affecting Iran’s finances, global energy markets, and the wider regional balance.

For now, the talks appear to be in a fragile holding pattern. CBS News said the tentative memorandum is still awaiting the approval of Trump and Iranian leadership, and the Independent reported that Iranian state TV described its version of the text as still unfinished. That leaves the core issues unresolved: whether the ceasefire holds, whether shipping through Hormuz resumes normally, and whether the two sides can turn temporary de-escalation into a broader peace arrangement.