Key facts
- President Trump announced the Strait of Hormuz will be toll-free upon its permanent opening.
- A memorandum of understanding with Iran has been signed.
- The Strait of Hormuz is expected to be completely open by Friday.
- European officials are hesitant to deploy ships due to potential risks associated with opening the Strait of Hormuz.
President Trump announced that the Strait of Hormuz will be toll-free once it permanently opens, stating that a memorandum of understanding with Iran has been signed and the waterway will be "completely open" by Friday. He indicated he "wouldn't mind" sending the agreement to Congress for review. However, European officials are hesitant to deploy ships that might face risks due to Trump's desire to expedite the opening of the Strait of Hormuz.