US President Donald Trump announced on Sunday that a peace agreement with Iran had been finalised, saying the Strait of Hormuz would reopen and the American naval blockade would be lifted immediately. He added that the deal will be signed on Friday. Writing on his Truth Social platform, Trump said the deal with the Islamic Republic of Iran was "now complete" and offered his congratulations to all parties involved. "The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorise the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorise the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!" Trump wrote. Iran, on the other hand, said the final deal will be negotiated in the 60-day ceasefire that follows the Memorandum of Understanding, reiterating its "mistrust" in Washington.