Trump lifts Hormuz blockade, markets surge, deal pending

Trump announced lifting the Strait of Hormuz blockade, demanding Iran forgo nuclear arms. Markets surged, but no final deal has been confirmed yet.

Former U.S. President Donald Trump announced on Truth Social that the naval blockade at the Strait of Hormuz will be lifted, allowing ships to return home. Trump emphasized that Iran must agree never to possess nuclear weapons or bombs and insisted the strait be opened for unrestricted maritime traffic without transit fees. He further stated that enriched uranium in Iran would be extracted and destroyed in coordination with the U.S., Iran, and the International Atomic Energy Agency. This announcement comes amid ongoing U.S.-Iran tensions and follows reports of a tentative agreement to extend the ceasefire by 60 days, pending final approval. Markets responded positively: Bitcoin surged above $74,000, major U.S. stock indexes edged higher, and oil prices fell. However, officials from both countries noted that no final agreement has been reached, with conflicting signals about the status of negotiations.