Iran plans to reopen the Strait of Hormuz and will be permitted to sell oil without restrictions following a tentative agreement with the United States, according to leaked documents. The deal, which is expected to be signed on June 19, 2026, in Switzerland, includes provisions for Iran to receive at least $300 billion for post-war rebuilding and aims to end U.S. and UN sanctions if a final agreement on Iran's nuclear program is achieved.
U.S. President Donald Trump expressed uncertainty about the signing, highlighting the unpredictable nature of negotiations. The agreement is intended to halt hostilities and initiate further discussions regarding Iran's nuclear capabilities, while also reopening the Strait of Hormuz, a vital route for global oil and natural gas transport.
The deal includes an end to fighting in Lebanon involving Hezbollah, although it does not specify any Israeli withdrawal from the region. Reports indicate that the terms of the agreement align with those published by Saudi-owned Al Arabiya and Bloomberg, although the White House has not confirmed the details.
While the agreement offers significant concessions to Iran, including the potential lifting of sanctions and access to frozen assets, these measures will be contingent on progress in nuclear negotiations. In 2024, Iran's oil export revenues exceeded $46 billion, primarily from sales to China.