Trump signals progress on Iran deal, eyes full reopening of Hormuz

FXStreetJun 16, 2026 12:38 PM

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President Donald Trump on Tuesday outlined the next steps in the Iran agreement, saying the deal's text will be released in the coming days and that the Strait of Hormuz should be fully reopened by Friday.

Key Quotes

We will have the Strait of Hormuz fully open by Friday.

We will release the text of the Iran agreement in a formal setting.

We expect the second stage of the Iran deal to move quickly.

The memorandum of understanding clearly states that Iran will not have a nuclear weapon.

We will hold a news conference on the Iran agreement in the coming days.

We will review the memorandum of understanding with the media shortly.

This agreement is about one thing: ensuring that Iran never acquires a nuclear weapon.

We will send the Iran agreement to Congress for review

We are in a position to let Russia's oil waivers lapse.

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