The memorandum of understanding is scheduled to be officially signed on Friday in Switzerland.

President Donald Trump said the Strait of Hormuz would reopen upon the deal’s signing on Friday.

ISLAMABAD: The United States and Iran have reached an agreement to end the war and open the Strait of Hormuz, offering relief to the global economy more than three months since…

In a social media post, Trump said the strait would be open "toll free" and that the US naval blockade would also end.

The United States and Iran have agreed on a peace framework aimed at ending the conflict, lifting the U.S. blockade of Iran and reopening the Strait of Hormuz, a key global oil…

Strait of Hormuz expected to reopen and US blockade to be lifted