A deal has been reached to end the conflict in Iran, and President Trump has ordered the cessation of the US naval blockade in the Strait of Hormuz.
The U.S. military has received orders to prepare for lifting the naval blockade of the Strait of Hormuz starting from Friday, contingent upon the signing of an agreement between Washington and the Islamic Republic, according to a U.S. official who noted that this plan may be subject to changes before the deadline.
The Associated Press reported that despite an agreement announced on Sunday to end the war between Iran and reopen the Strait of Hormuz, high oil and gasoline prices and energy supply issues will persist for months as energy companies resume operations and security concerns remain. Oil tanker ships have been stranded in the Persian Gulf for over three months, unable to safely pass through the Strait of Hormuz, which typically handles about one-fifth of the world's oil and gasoline.
Iran and the United States have announced an agreement to cease hostilities, reopen the Strait of Hormuz, and initiate negotiations towards a final resolution, which has been met with support from some world leaders. In a significant European reaction, Britain, France, Germany, and Italy stated they are prepared to lift sanctions on the Islamic Republic if Iran complies with its nuclear program commitments.
