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The council also said the U.S. would fully lift its naval blockade of Iran, which would take effect immediately, according to Iran International.

Under the reported framework, negotiations on a broader and more comprehensive agreement will begin only after both sides have fulfilled the commitments outlined in the initial memorandum.

Iranian officials also thanked Pakistan and Qatar for their roles in facilitating talks and helping broker the agreement.

The memorandum is reportedly scheduled to be formally signed on June 19 and would launch a 60-day negotiating period focused on Iran’s nuclear program and the terms of a wider long-term agreement between the two countries.

“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!” Trump wrote on his Truth Social platform.

“I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!” he added.

In a follow-on post, the president said, “This Great Deal will bring Peace and Security to the whole Region. Many presidents have tried to make Peace with Iran, and all have failed before me.

“The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace,” Trump said.

“With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!” he noted further.

German Chancellor Friedrich Merz praised the agreement as well.

“I welcome the agreement between the U.S. and Iran and congratulate President Trump and the Iranian side on this diplomatic breakthrough,” Merz said in a post on X.

“This can pave the way for a reinvigorated global economy and a more secure Middle East. It is crucial to implement it with determination,” he added.