U.S. President Donald Trump has announced an agreement with Iran, stating it will be signed this Sunday. A key component of the deal involves the immediate reopening of the Strait of Hormuz, a vital shipping lane. Trump claims Iran has committed to not pursuing nuclear weapons “by purchase, development, or any other means.” The announcement follows a period of heightened tensions in the Persian Gulf region, including maritime incidents and concerns over Iran’s nuclear program. Details of the agreement remain limited, and it is unclear what concessions, if any, Iran has made in return. The move could potentially de-escalate a volatile situation and stabilize global oil markets. Further information regarding the specifics of the deal is expected following the signing ceremony.