Trump Declares US-Iran Peace Deal 'Largely Negotiated' — Strait of Hormuz Opening; Rubio Says 'Significant Progress'

President Trump on May 23, 2026 (Day 84 of the US-Iran war) announced on social media that 'An Agreement has been largely negotiated, subject to finalization' — declaring a broad framework with Iran covering the Strait of Hormuz, the ongoing war, and nuclear issues. Trump said an announcement of final terms would come 'shortly.' Secretary of State Marco Rubio qualified Trump's statement, telling reporters there had been 'significant progress, although not final progress' in negotiations mediated by Pakistan and Qatar. Trump also held a call on May 23 with leaders from Saudi Arabia, Qatar, UAE, Egypt, Turkey, Pakistan, Jordan, and Bahrain to brief them on the deal's status. Axios reported exclusively on the emerging framework: a 60-day ceasefire extension during which the Strait of Hormuz would reopen and Iran could freely sell oil; Iran commits to 'never pursuing nuclear weapons' and to negotiate a formal suspension of uranium enrichment; Iran's stockpile of highly enriched uranium would be diluted or transferred to a third country (possibly Russia); in parallel, the US ends its naval blockade of Iranian ports. The announcement sent Brent crude falling toward ~$100/bbl from the prior $104 range — a potential $15-20 relief from pre-deal prices if fully implemented. Iran's semi-official Fars News Agency, however, indicated 'wide disagreements' remained and declined to confirm the deal, underscoring that final agreement was not yet secured.