President Donald Trump said on 23 May 2026 that the US is in the final stages of negotiating an agreement to extend the ceasefire in its war with Iran and to reopen the Strait of Hormuz, posting that “an Agreement has been largely negotiated.” Secretary of State Marco Rubio said “there may be news later today,” while Iran said positions had narrowed but no deal was yet final.
What Trump Said
- “An Agreement has been largely negotiated”
- “Final aspects and details… will be announced shortly”
- “The Strait of Hormuz will be opened”
- Comes after a fragile, nearly two-month ceasefire
The Caveats
- Rubio (in India): “there may be news later today”
- Iran’s spokesman: positions “closer… but not to the point of an agreement”
- Negotiations still fragile; details unconfirmed
Why It Matters
- Reopening Hormuz would ease the global oil-supply squeeze
- Direct relief for Africa’s fuel-import bills, including Ghana’s
- Could end one of 2026’s defining geopolitical conflicts
What To Watch
- An official signed agreement and its terms
- Confirmation that Hormuz traffic resumes
- Oil-price reaction (Brent/WTI)
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