In a significant development, Iranian officials have revealed that they are close to finalizing a peace deal with the United States, which could lead to the reopening of the Strait of Hormuz. This strategic waterway is vital for global oil and gas transportation. The discussions gained momentum after U.S. President Donald Trump hinted at an imminent agreement, prompting three senior Iranian officials to confirm the existence of a memorandum of understanding aimed at halting hostilities. Iran's deputy foreign minister, Kazem Gharibabadi, reiterated the nation's pursuit of peace through strength and diplomacy, while also asserting its rights and territorial integrity. As part of the proposed deal, Iran would permit ships to transit the Strait of Hormuz without tolls or fees, while the U.S. would lift its naval blockade on Iran. Additionally, the agreement seeks to cease fighting across various fronts, including ongoing clashes involving Hezbollah in Lebanon. This potential resolution marks a pivotal moment in U.S.-Iran relations, especially following the recent cease-fire that took effect last month.