President Donald Trump announced Monday that the Strait of Hormuz will be completely reopened and toll-free by Friday [1], [2].

The reopening of this critical waterway follows a signed peace agreement between the U.S. and Iran, potentially stabilizing global energy markets and reducing regional hostilities.

Trump made the announcement during a meeting with French President Emmanuel Macron on the sidelines of the G7 summit in France [3], [4]. He said the peace deal ended the hostilities that had previously restricted maritime traffic in the region [5].

"The Strait of Hormuz will be completely opened on Friday, toll free," Trump said [2].

While the president emphasized a full reopening by Friday, June 19, 2026 [2], some reports indicated a more gradual process. Trump said the Iran deal is all signed and the Strait of Hormuz is partially opened [6].

Despite the discrepancy regarding the current state of the waterway, the administration maintains that the peace agreement is the catalyst for the shift. "We are reopening the Strait of Hormuz fully by Friday after the peace agreement," Trump said [4].

The announcement comes as world leaders gather for the G7 summit to discuss international security, and economic cooperation. The transition to a toll-free status for the strait marks a significant shift in the geopolitical management of the narrow corridor, which is one of the world's most important oil transit chokepoints.

“"The Strait of Hormuz will be completely opened on Friday, toll free,"”

The full reopening of the Strait of Hormuz would remove a primary volatility trigger for global oil prices. By securing a peace deal with Iran, the U.S. aims to ensure the uninterrupted flow of energy exports from the Persian Gulf, which is vital for global economic stability and reduces the likelihood of direct military confrontation in the region.