WASHINGTON: US President Donald Trump on Tuesday said global oil prices were falling after a record 19 million barrels of oil passed through the Strait of Hormuz in a single day after the United States and Iran on Monday agreed on a 60-day roadmap towards a final agreement during Pakistan and Qatar mediated talks in Switzerland.
In a post on his Truth Social platform, Trump claimed that 19 million barrels of oil flowed through the strategic waterway on Monday. “19 million barrels of oil flowed out of the Hormuz Strait yesterday, an all-time record. Oil prices are tumbling down, and the world is a much safer place!!!” the US President wrote.
— Rapid Response 47 (@RapidResponse47) June 23, 2026
In another post on Truth Social, Trump claimed that despite their protest, Iran has “fully and completely agreed to highest-level nuclear inspections long into the future”.
The US President insisted that if Tehran did not agree to the inspections, then “there would be no further negotiations”.
“Based on this and other major concessions being made by Iran, I have agreed to allow the Hormuz Strait to remain open, with no further Naval blockade,” he added.
“However, all ships are remaining in place should it be necessary to reinstitute the blockade, which seems, at this point, highly unlikely,” the US President stated.
Trump added that frozen Iranian assets released by the US will be “used for the purchase of food and medical supplies, exclusively from the United States, including corn, wheat, and soybeans from our great American farmers”.
“These are things that are desperately needed by Iran. This is a humanitarian crisis, and I feel it is necessary to help now, before it is too late. Talks are going well!” he adds.
— Rapid Response 47 (@RapidResponse47) June 23, 2026
US, Iran agree 60-day roadmap for final deal
Mediators Pakistan and Qatar on Monday released a joint statement after the high-level US-Iran direct talks in Switzerland. Pakistan’s Prime Minister Shehbaz Sharif and Chief of Defence Forces and Chief of Army Staff Field Marshal Syed Asim Munir attended the talks as mediators. The Qatari Prime Minister also attended the talks as mediator.
According to a joint statement issued on Monday, the US and Iran have agreed on a 60-day roadmap towards a final agreement following the conclusion of high-level talks in Switzerland mediated by Pakistan and Qatar.
The first session of negotiations under the framework of the Islamabad Memorandum of Understanding concluded at the Burgenstock resort, bringing together representatives of Iran, the United States, Pakistan and Qatar.
The mediating countries described the Lake Lucerne Summit as having been conducted in a “positive and constructive atmosphere” and said “encouraging progress” had been achieved, including the establishment of a mechanism for further technical negotiations.
The parties agreed to establish a High-Level Committee to provide political oversight of the mediation process. Under the arrangement, chief negotiators will regularly report to the committee and lead specialised working groups focusing on nuclear issues, sanctions, monitoring mechanisms and dispute resolution.
According to the statement, the committee approved a roadmap aimed at reaching a final agreement within 60 days and laid the groundwork for the immediate start of technical discussions.
A direct communication channel has also been established between the parties to prevent misunderstandings and incidents during the implementation period outlined in the memorandum, particularly to ensure the safe passage of commercial vessels through the Strait of Hormuz.
The statement further announced the creation of a de-confliction cell involving the negotiating parties and the Lebanese Republic, facilitated by Pakistan and Qatar, to oversee compliance with the cessation of military operations in Lebanon agreed under the memorandum.
Technical talks are expected to continue throughout the week at the Burgenstock resort.
Pakistan and Qatar reaffirmed their commitment to supporting the negotiations and ensuring that discussions continue in a constructive atmosphere aimed at achieving a comprehensive and lasting agreement.
