U.S. and Iran Agree to Open Strait of Hormuz for 60 Days

The U.S. and Iran signed an accord on June 17, 2026, guaranteeing free passage for civilian ships through the Strait of Hormuz—a waterway carrying 20 percent of global oil. The deal also waives Treasury sanctions on Iranian crude exports, easing revenue constraints. The 60-day window is a confidence-building measure; a permanent settlement remains unsigned.