Donald Trump announced on June 14 that the US and Iran have reached a deal to lift the naval blockade imposed on Iranian ports, with a formal signing ceremony scheduled for June 19 in Switzerland. The agreement also includes toll-free access to the Strait of Hormuz, a chokepoint that handles a massive share of the world’s oil transit.
What the deal actually involves
The US naval blockade began on April 13, costing Iran an estimated $4.8 billion in oil revenue by early May alone. The blockade followed a collapse in peace talks and was part of a broader escalation that included US and Israeli military actions dating back to December 28, 2025.
The deal permits the immediate cessation of the blockade and restores normal maritime transit through the Strait of Hormuz. Vice President JD Vance is expected to attend the signing ceremony in Switzerland, with Trump himself possibly joining.
Pakistan played a key mediating role in brokering the agreement. The deal does not resolve Iran’s nuclear ambitions. Those issues have been deliberately punted to future negotiations.
