Trump announces progress on Iran peace deal, signalling the Strait of Hormuz, vital for global trade, could reopen soon.United States President Donald Trump says a memorandum of understanding on an agreement with Iran has been “largely ⁠⁠negotiated” and would reopen the Strait of Hormuz, the vital oil chokepoint closed since the US and Israel launched their war in February.Prime Minister Shehbaz Sharif of Pakistan, the mediator in the talks, said the next round of negotiations between the US and Iran will happen “very soon”.Recommended Stories list of 3 itemslist 1 of 3Trump shifts between diplomacy and threats in Iran standofflist 2 of 3Munir, Rubio say ‘progress’ made in US-Iran talks, Tehran signals cautionlist 3 of 3Missiles to munitions: Does the US risk running out of key weapons?end of listPakistani ⁠⁠Foreign ⁠⁠Minister Ishaq Dar said on Sunday that “meaningful progress” ⁠⁠had been achieved, offering grounds for optimism that a positive ‌‌and durable outcome is within reach.However, Iran’s Fars News Agency pushed back on some of Trump’s claims, reporting that the draft agreement would leave Iran in charge of the strait and calling Trump’s assertions “inconsistent with ⁠⁠reality”.Meanwhile, Israeli Prime Minister Benjamin Netanyahu is expected to hold a security cabinet meeting this evening to discuss the potential deal, Israeli media reported.Here is what we know:In the US: