U.S.President Donald Trump announced that a potential peace agreement with Iran has been “largely negotiated,” signaling major progress in talks aimed at ending ongoing hostilities and stabilizing key regional shipping routes.

According to the latest updates, the proposed framework would include steps toward reopening the Strait of Hormuz, a critical global oil transit chokepoint, while gradually lifting restrictions tied to the US blockade of Iranian ports.

Trump indicated that final details are still being worked out, but regional leaders have urged acceptance of the current framework following mediation efforts involving multiple countries.U.S.

Secretary of State Marco Rubio confirmed that “significant progress” has been made in negotiations, while reiterating Washington’s core demand that Iran must never obtain a nuclear weapon.

He also criticized Iran’s threats to commercial shipping in the Strait of Hormuz, calling them illegal under international law and warning against normalizing such actions.

Meanwhile, Iranian state-affiliated media pushed back, stating that Tehran has not agreed to any new nuclear-related measures and emphasizing that the Strait will not return to its pre-war status.Iranian officials also insisted that any agreement would require phased implementation and guarantees regarding sanctions relief and frozen assets.

The potential deal reportedly includes a phased approach: an initial period addressing maritime restrictions and limited asset releases, followed by longer negotiations on Iran’s nuclear program and broader security issues.

The developments come amid heightened global concern over energy prices, with disruptions in the Strait of Hormuz already affecting oil markets and raising fuel costs in multiple countries.