United States President Donald Trump says “ships are starting to move” through the Strait of Hormuz as US officials maintain that a digital memorandum of understanding on an initial deal to end the US-Israel war with Iran has already been signed.

Trump’s statement on Monday came after both the US and Iran announced plans to hold a signing ceremony in Switzerland on Friday.

While no official text of the agreement has been released, US Vice President JD Vance and a senior US official said on Monday that the terms were already set and that both sides had signed a digital version of the agreement.

The US and Iran have said the initial deal would see the Strait of Hormuz reopened, the US naval blockade on Iranian ports lifted, and fighting halted on all fronts.

More entrenched issues, including the future of Iran’s nuclear programme, its support for proxies in the region, the unfreezing of Iranian assets, and the lifting of sanctions, are expected to be addressed during a 60-day negotiation period.

“Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz,” Trump wrote in a post on Truth Social, shortly before arriving in France for the Group of Seven (G7) Summit.

“They are going along the Southern ‘Highway,’ which is totally safe, secure, and pristine,” Trump added, referring to a shipping route in the strait that traverses Oman’s territorial waters.

The route has been a concern due to maritime mines.

“There are other areas of travel, also!!!” Trump said.

A US military advisory released on Monday said the ongoing US naval blockade of Iran’s ports would remain in effect until the signing ceremony, according to Reuters news agency.

“A military blockade ⁠of Iranian ⁠ports remains in effect restricting all traffic ⁠inbound and outbound ⁠from these ⁠ports,” the advisory said.

“Do not attempt to ‌cross until explicit direction is ‌given.”

Long return to normal operations

While international oil markets rebounded following positive signals towards a deal, if the strait were fully reopened, it would take months for operations to return to normal.

On Monday, shipping and maritime security forces told the Reuters news agency that mine-sweeping operations could continue for 40 to 50 days before many insurance and shipping companies would be confident enough to permit passage through the waterway.

Some companies, however, have indicated that they will start transiting sooner.

The International Chamber of Shipping has said about 500 ships are waiting to pass through the strait, with about 20,000 stranded crew.

Speaking alongside Trump in France on Monday, French President Emmanuel Macron said France and the United Kingdom will lead a mission to coordinate the reopening.

The International Maritime Organization has recorded 46 US and Iranian attacks on international shipping lines throughout the conflict.

Trump, meanwhile, said the Strait of Hormuz would be “completely open” by Friday.

Unanswered questions

Official details of the plan to reopen the strait have not been released, nor has the thornier question of its future administration.

The waterway had been open prior to the US and Israel launching attacks on Iran on February 28.

Experts have warned that the conflict has reinforced the strait’s significance as a key point of leverage for Iran, enabling it to effectively close the route or levy tolls.

On Monday, Vance told CNBC that he expected the strait to be “opened in a toll-free way for the long term”. He added that the issue would be discussed in “technical negotiations”.

However, Iran’s Ministry of Foreign Affairs spokesman, Esmaeil Baghaei, indicated on Monday that “fees” will be charged.

“Our goal is to pave the way for a secure passage in this waterway,” he said. “We need a certain period of time to discuss with the other sides this important matter.”

Iranian President Masoud Pezeshkian framed the breakthrough as a victory for Tehran in statements on Monday.

He also pointed to “minor differences in a very short section”, without elaborating.

US says deal signed ‘digitally’

In a separate interview on ABC News, Vance said that the memorandum of understanding (MoU) had already been signed “digitally” on Sunday, suggesting that the as-yet-unreleased terms were not subject to change before Friday.

Multiple media outlets reported that US and Iranian officials said the deal could eventually lift sanctions on Iran, and establish a $300bn reconstruction fund, which would be paid for by neighbouring Gulf countries.

“That’s the sort of thing they could have access to, funded by the Gulf Coast coalition, so long as they honour their end of the obligation,” Vance said when asked by CBS News about the $300bn.

A senior US official, speaking to reporters on condition of anonymity, also said that Vance, Trump, and Iran’s top negotiator, Parliament Speaker Mohammad Bagher Ghalibaf, had already signed the digital agreement.

Iran has not confirmed that Ghalibaf has signed it.

The official said that the US may make some small gesture as part of the MoU, but unfreezing Iranian funds and lifting sanctions would be subject to Iran’s behaviour going forward.

The official also said that the US force posture would remain unchanged in the Middle East pending the 60 days of negotiations following the MoU signing, but a future reduction was possible.

He added that while Washington has said the deal includes a pause in fighting in Lebanon, it did not explicitly require Israel to withdraw from the areas of the country it is currently occupying.

Speaking in France, Trump said that Vance will attend the planned signing ceremony in Switzerland and that the agreement’s text would be released on Friday or later.

Trump described the MoU as “all signed”.

“I may be involved, I may not,” he said of his possible attendance at the signing ceremony.