President Donald Trump announced that the US and Iran are nearing what he called a “Complete and Final Agreement,” one that would reopen the Strait of Hormuz and unfreeze billions in Iranian assets.
Trump said on May 6 there is a “very good chance” of concluding a deal centered on Iran’s nuclear program and sanctions relief. The day before, he announced a pause to military operations under “Project Freedom,” citing “Great Progress” in negotiations.
What’s actually on the table
The core framework involves Iran agreeing to limits on its nuclear ambitions in exchange for the US lifting sanctions. A memorandum of understanding would effectively declare an end to hostilities, with a roughly 30-day window to hammer out remaining details.
Two major economic components stand out. First, reopening the Strait of Hormuz, the narrow waterway through which a massive share of global oil shipments pass. Second, unfreezing Iranian assets, with figures of around $20 billion mentioned in discussions.
