TNI Bureau: The United States and Iran have announced a breakthrough understanding aimed at ending months of tensions that disrupted global energy supplies, with both sides claiming success in the negotiations.

On his 80th Birthday, US President Donald Trump declared that the agreement to reopen the Strait of Hormuz was “complete” and authorized the removal of the US naval blockade, saying, “Let the oil flow.”

According to Washington, the deal would bring an immediate halt to military operations and restore freedom of navigation through one of the world’s most critical energy corridors.

Iran, meanwhile, portrayed the arrangement as a diplomatic victory. Iranian officials said the draft memorandum includes US commitments to refrain from imposing new sanctions, provide temporary waivers on oil sanctions and release $25 billion in frozen Iranian assets.

Tehran also said the Strait of Hormuz would be reopened to commercial shipping while the US blockade on Iranian ports would be lifted within 30 days.

Under the proposed framework, Iran has agreed not to pursue nuclear weapons and to maintain the current status of its nuclear programme while negotiations on a final agreement continue.

The prospect of renewed oil flows triggered a sharp decline in crude prices, with Brent and WTI benchmarks falling more than 4% as traders anticipated the return of disrupted supplies. Analysts believe the easing of geopolitical risks could help stabilise global energy markets.

Although details are still being finalized and a formal signing is expected on Friday, June 19, the agreement marks the most significant de-escalation between Washington and Tehran in years.