"Ships are starting to go out now, on Friday [the Strait of Hormuz] will be completely opened."

"Ships are starting to go out now, on Friday [the Strait of Hormuz] will be completely opened."

At the G7 summit, President Donald Trump said the agreement with Iran has already been finalized and signed, and suggested maritime access through the Strait of Hormuz is beginning to reopen, with further expansion expected later in the week.

“The deal’s all signed [with Iran], and the Strait is already partially opened as you know they’re doing a little hunting for a couple of mines that they’ve already found.”

Trump said commercial shipping activity was already resuming and pointed to economic indicators tied to the announcement. “Ships are starting to go out now, on Friday it will be completely opened.”

He added that financial markets were responding positively to the developments. “The oil is plummeting down, and the stock market is shooting up like a rocket today.”

Separately, Vice President JD Vance confirmed details of the agreement and described it as a phased, conditional framework tied to verification and sanctions relief. Speaking in an interview, he said the deal had already been signed digitally and emphasized that no sanctioned funds had been released.

“Well, we already signed the deal digitally yesterday, and there's been no money released, and that won't change," Vance said. "Again, this is a performance-based thing. If we see the Iranians making, for example, taking action to eliminate their stockpile of enriched material, then yes, sanctions relief will follow. If we see the Iranians taking action to allow the verification regime that we need to see to know that they're not going to build a nuclear weapon, yes, sanctions relief will follow.

"So this is really about walking down a pathway here where the Iranians will be welcomed into the world economy if they do the right thing. And, George, we have to remember, their economy is fundamentally destroyed. Their nuclear program is fundamentally destroyed. If they don't do the right things, if they don't allow the verification regime, they're never going to have the money to rebuild their nuclear program to begin with. So this is fundamentally a win-win for the American people.

"What the president has said is he wants it to be a win for the Iranian people as well, but that requires some real trust-building and some real positive conduct from the Iranian political system. We're going to see if that happens. If it does, they're absolutely going to find the president of the United States and the entire team a willing partner to make their country more prosperous," the vice president said.