Iran and the United States said ships had again started moving through the Strait of Hormuz – with US President Donald Trump saying the vital oil route would be "completely open" by Friday – after Washington and Tehran announced a deal to end the Middle East war.
The reopening of one of the world's most important energy chokepoints would mark a major step toward ending months of deadly conflict and economic turmoil triggered by US-Israeli strikes on Iran in late February.
"Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz," Trump said, adding later that he did not "think we will need much help" keeping the waterway open.
The deal sparked a huge rally across global equities, with the Dow on Wall Street hitting a record high and crude prices plunging almost five percent.
Iranian media reported on Monday evening that three oil tankers and two laden cargo ships had passed through the area that had been subject to a US naval blockade.
Iran had blockaded the strait since the start of the war, sending oil prices soaring and raising fears of a prolonged inflation shock. The United States then blocked shipping to and from Iranian ports.
The US, Iran and mediator Pakistan said the peace agreement was to be signed Friday in Switzerland.
A senior US administration official, however, said Trump, Vice-President JD Vance and Iran's parliamentary speaker Mohammad Bagher Ghalibaf had already signed the text electronically.
"The president wanted to sign it personally because he wanted to show his... dedication to bring this through to a successful resolution," said the official.
Asked at the G7 in France when the text would be released, Trump said: "It's a very powerful document, and I want it to be released. So probably pretty soon."
Iran's Deputy Foreign Minister Kazem Gharibabadi said the deal brought an "immediate end" to the war, with talks on a "final agreement" to be held within two months.
His country's military hailed the accord as a victory, claiming it had "humiliated" the US and Israel, while President Masoud Pezeshkian called it "a great achievement" for the region.
Iranian Foreign Minister Abbas Araghchi struck a cautious tone, saying: "We have a history of broken commitments... a history of agreements being torn up. All of this is present in our minds."
Terms unclear
The deal follows weeks of fraught negotiations and threats of renewed hostilities.
Iran's Foreign Ministry spokesman Esmaeil Baqaei said Washington had "committed" to releasing frozen Iranian funds abroad and compensating Tehran for wartime damage.
Iran's Mehr news agency had reported the US would release US$12 billion in frozen assets before negotiations begin.
As part of a flurry of interviews to talk up the deal, Vance told Fox News that no US taxpayer money will go to Iran under the deal.
Baqaei also said Tehran would seek UN Security Council ratification after negotiating a final agreement on its nuclear programme.
That could prove contentious as Washington presses to end Iran's nuclear ambitions and address its stockpile of highly enriched uranium, said to have been buried by US strikes last year.
Trump told The New York Times the US was still negotiating whether Iran would suspend enrichment for 20 years, hinting he might settle for 15.
Vance told NBC that US and UN nuclear inspectors will be allowed to enter Iran.
"In fact, one of the core parts of the agreement is that the [International Atomic Energy Agency] and the United States are going to help Iran destroy the highly enriched stockpile, and that's something that's spelled out very clearly" in the MoU, Vance said.
Baqaei said Iran would charge maritime service fees, rather than tolls, on shipping through Hormuz.
In Tehran, English teacher Arya, 38, said "our people will not return to normal."
"They came to understand that Trump is not their ally," he said.
Lebanon questions
Baqaei also said Washington must ensure that Israel stops fighting in Lebanon under the agreement.
Lebanon was pulled into the war in early March when Iran-backed Hezbollah launched rockets at Israel after the killing of Iran's supreme leader, prompting Israeli strikes and a ground invasion.
But Israeli Prime Minister Benjamin Netanyahu said the country's forces would remain in Lebanon, Syria and Gaza "as long as necessary."
He said the war with Iran had spared Israel from the Islamic republic's threat of "nuclear annihilation," while Israeli figures across the political spectrum criticised the deal.
Lebanese President Joseph Aoun welcomed the agreement during a call with Araghchi, saying he hoped it would be a "positive step towards reducing tensions."
Lebanese state media later reported the first deadly strike since the announcement, saying the Israeli attack in the south killed one person.
Hezbollah, which thanked Iran for insisting Lebanon be included in the deal, said it had repelled an Israeli force trying to "advance" in southern Lebanon.
– TIMES/AFP
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