U.S. President Donald Trump speaks in the Oval Office at the White House in Washington, June 11. Reuters-Yonhap

WASHINGTON — U.S. President Donald Trump said Sunday that the United States and Iran have reached a peace deal to end their monthslong war, noting that the crucial Strait of Hormuz will reopen once they sign the deal later this week.

Trump announced the deal on social media, capping grueling negotiations to end the hostilities that started with the U.S.-Israeli attack on Iran on Feb. 28, as Pakistani Prime Minister Shehbaz Sharif, a key mediator, said that the official signing ceremony for the deal will take place in Switzerland on Friday.

"The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!" Trump wrote on Truth Social."

"I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!"