US President Donald Trump has announced that the peace deal with Iran is “now complete,” signaling the reopening of the Strait of Hormuz.

“I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!” Trump wrote on Truth Social.

Pakistani Prime Minister Shehbaz Sharif, who mediated the negotiations, said that both sides “have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.”

Sharif added that the agreement would be formally signed on Friday in Switzerland.

The US and Iran previously said that a memorandum of understanding had been largely finalized. According to Tehran, the document would focus on ending the war and reopening the Strait of Hormuz, while Iran’s nuclear program would be addressed in separate negotiations within 60 days of its signing.

Trump had several heated phone calls with Israeli Prime Minister Benjamin Netanyahu in recent weeks, during which he demanded that Israel stop its airstrikes in Lebanon. Iran had previously threatened to suspend the talks unless the Israeli campaign came to an end.