U.S. forces have lifted their blockade on ships entering and exiting Iranian ports and coastal areas, U.S. Central Command announced Thursday. The move follows the signing of a preliminary agreement between the U.S. and Iran on Wednesday.
The agreement, signed by President Trump, Iranian President Masoud Pezeshkian and Pakistan's prime minister, starts a 60-day period for negotiations on a final deal. Iran has committed to allowing oil tankers safe passage through the Strait of Hormuz with no charge for 60 days.
Vice President JD Vance defended the memorandum of understanding during a White House press briefing on Thursday. He said the U.S. holds all the cards and called the lifting of the blockade a step to promote the free flow of energy.
The national average gas price fell below $4 per gallon on Thursday for the first time since March, according to AAA. President Trump signed the deal during a dinner at the Palace of Versailles following the G7 summit.
