U.S. and Iran Near Deal to End War, Reopen Strait of Hormuz

What Happened

Regional officials and a U.S. official stated that the United States and Iran are close to reaching a deal to end the war. The potential agreement, mediated primarily by Pakistan, would include an official declaration ending the war, the reopening of the Strait of Hormuz, and the lifting of the U.S. blockade on Iranian ports. It would also launch a 60-day period of negotiations focused on Iran's nuclear program, including the disposal of its stockpile of highly enriched uranium. U.S. Secretary of State Marco Rubio stated that 'significant progress... has been made.' A senior U.S. official indicated that it could take several days for the deal to receive final approval from Iran's leadership.

President Trump announced that a deal had been 'largely negotiated' following calls with regional allies. He stated the proposed agreement is a 'Memorandum of Understanding pertaining to PEACE' that requires finalization. Trump had previously delayed a planned military strike on Iran at the request of the leaders of Qatar, Saudi Arabia, and the United Arab Emirates, stating that 'serious negotiations' were underway.

In Congress, House Republican leaders canceled a scheduled vote on a Democratic-sponsored war powers resolution intended to compel President Trump to withdraw from the war. The cancellation occurred after it became apparent leadership lacked the necessary votes to defeat the measure. GOP leaders plan to reintroduce the measure when the House returns from its week-long Memorial Day recess.

Why this Matters to You

The immediate impact of a deal would likely be felt at the gas pump. The war has effectively closed the Strait of Hormuz, a waterway for about one-fifth of the world's oil and natural gas, contributing to a more than 50% increase in the national average price of gasoline since the conflict began. A reopening of the strait could help stabilize or lower global oil prices, which have risen to over $110 per barrel. The continued threat of war has also contributed to volatility in financial markets, with U.S. stock indices falling recently.

For U.S. service members and their families, a formal end to hostilities could mean a reduced risk of a large-scale assault and a potential pathway to de-escalation. The draft agreement includes a provision to end the parallel war between Israel and the Iran-backed Hezbollah group in Lebanon, which has killed thousands. If finalized, the deal may also avert a constitutional clash between Congress and the President over war powers, which has been moving toward a potential legislative check on military action.

What's Next

The final decision on the deal now appears to rest with Iran's leadership, including Supreme Leader Mojtaba Khamenei. A senior U.S. official indicated approval could take several days. If signed, the agreement would trigger a 60-day negotiation period where details on Iran's nuclear concessions, sanctions relief, and the release of frozen Iranian funds would be worked out. The U.S. has stated that sanctions relief would be contingent on verifiable performance from Iran.

In Washington, the House is expected to vote on the war powers resolution after the Memorial Day recess. The resolution, which would take effect without the President's signature if passed by both chambers, represents a significant political challenge to Trump's authority to continue the conflict. Its passage may become less likely if a deal is announced, as the White House argues the War Powers Act requirements no longer apply due to the existing ceasefire.

President Trump has instructed the U.S. military to remain prepared for a 'full, large scale assault of Iran' if an acceptable deal is not reached. The coming days will determine whether diplomacy succeeds or the fragile ceasefire breaks.