Audio By Vocalize

G7 leaders during the summit in France on Wednesday, June 16. [PCS]

The Group of Seven (G7) has welcomed an agreement between the United States and Iran that clears the way for ships to return to the Strait of Hormuz, the corridor through which a fifth of the world's oil passes.

Leaders meeting at their summit in Evian, France, on Wednesday said the deal, brokered under President Donald Trump with support from mediating countries, offers a chance to stop Iran building a nuclear weapon while ending a standoff that had choked off the shipping route as part of a wider US-Israeli war against Iran.

"We strongly support a robust and comprehensive diplomatic follow-on agreement," the G7 said in its joint statement, referring to a Memorandum of Understanding Trump had earlier secured with Tehran.