President Donald Trump announced on May 29, 2026, that he was meeting in the Situation Room to make a final decision on a potential agreement with Iran involving reopening the Strait of Hormuz and eliminating Iran’s stockpile of highly enriched uranium.
What happened
Trump revealed on his social media platform, Truth Social, that the proposed deal would require Iran to cooperate with the U.S. and the International Atomic Energy Agency (IAEA) to unearth and destroy approximately 900 pounds of highly enriched uranium reportedly buried under damaged nuclear facilities. The uranium, sometimes called “nuclear dust,” is said to be located under collapsed mountain areas targeted by U.S. bombing in the previous year.
Additionally, Trump stated Iran must reopen the Strait of Hormuz immediately, allowing unrestricted shipping traffic without imposing tolls. Trump also said the U.S. naval blockade of Iranian ports and vessels linked to the regime would be lifted, which has been in place since April 13, 2026, five days after a declared ceasefire. This blockade had caused severe disruptions in commercial shipping and contributed to rising global fuel prices.
Vice President JD Vance indicated on May 28 that the U.S. and Iran were close to a deal that would extend the current ceasefire and advance negotiations on outstanding issues, including Iran’s nuclear program. However, Iranian state media denied any finalized agreement, describing the deal as still in “final stages of ratification” and dismissed Trump’s public claims as a mix of truths and falsehoods.
The Iranian semi-official Fars news agency disputed key elements asserted by Trump, including that Iran would destroy enriched uranium or reopen the Strait of Hormuz without conditions. The agency noted the draft agreement includes the release of $12 billion in frozen Iranian assets—contrary to Trump’s claim that no money would be exchanged—and suggested the ceasefire’s extension would also address issues involving Hezbollah in Lebanon, which Trump did not mention.
Why it matters
The Strait of Hormuz is a critical maritime chokepoint through which about a fifth of the world’s oil trade passes. Any agreement affecting its status significantly impacts global energy markets and geopolitical stability in the Middle East. The potential destruction of Iran’s enriched uranium would mark a major development in curtailing its nuclear weapons capabilities, a core contention in international efforts to prevent nuclear proliferation.
Further, lifting the U.S. naval blockade could ease tensions in the Persian Gulf and alleviate global fuel price volatility caused by restricted Gulf shipping. However, conflicting statements from the U.S. and Iran underscore ongoing mistrust and the fragility of negotiations amid persistent regional conflicts, including Israel-Hezbollah hostilities in Lebanon.
Background
The U.S. and Iran have been at odds for decades over Iran’s nuclear ambitions and influence in the region. A ceasefire was declared in early April 2026, but enforcement has been tense, with both sides imposing maritime restrictions.
In recent months, the U.S. imposed a naval blockade to pressure Iran, prompting Iran to limit commercial traffic through the Strait of Hormuz. These moves led to disruptions in international shipping and increased fuel costs globally.
Meanwhile, Israeli forces escalated operations in southern Lebanon against Hezbollah, an Iranian-backed group, further complicating the regional security landscape. The ceasefire faces challenges as violence continues, highlighting the broader volatility surrounding the Iran negotiations.
Sources
This article is based on reporting and publicly available information from the following source:
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