Iranian state media on May 27, 2026 reported that Tehran has received a draft framework agreement with the United States that could restore commercial shipping through the Strait of Hormuz to pre-war levels within one month if Washington lifts its naval blockade around Iran.
According to the reported framework, the United States would withdraw military forces from Iran’s vicinity and remove restrictions on Iranian maritime trade, while Iran would allow commercial vessel traffic to normalize in the strategically critical waterway. Iranian state television stated that military vessels would remain excluded from the arrangement and that shipping management would continue in coordination with Oman.
The Strait of Hormuz remains one of the world’s most important energy chokepoints, handling a major share of global crude oil and LNG shipments. Disruptions linked to the ongoing Iran conflict and the US naval blockade have significantly impacted tanker movements, freight markets, insurance costs, and oil prices over recent months.
However, uncertainty continues around the proposed agreement. While Iranian media described the framework as an “initial unofficial” memorandum of understanding, the White House reportedly denied that any finalized agreement currently exists. Tehran also stated that no operational steps would be taken without “tangible verification” from the US side.
Following the reports, global oil prices declined sharply as markets reacted positively to the possibility of restored maritime trade flows through the Gulf region. Analysts believe any reopening of the Strait of Hormuz would ease pressure on tanker supply chains and improve stability across global energy shipping routes.
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