The United States has warned Oman against supporting any effort to impose tolls in the Strait of Hormuz, saying Washington would penalise any parties involved in facilitating such a system.
U.S. President Donald Trump said Iran must agree to end its “chokehold” on the Strait of Hormuz and dismantle its nuclear weapon capability as conditions for any broader deal. He added that nuclear material would be “unearthed” under a U.S.-led process.
Trump said Iran must “never have a nuclear weapon” and that the Strait of Hormuz must be immediately reopened for unrestricted shipping in both directions with no tolls.
Iran’s semi-official Fars news agency, citing sources, described Trump’s comments as an “attempt to portray a fabricated victory,” while a senior Iranian source said the draft deal does not include nuclear-related provisions.
Iranian Foreign Ministry spokesperson Esmaeil Baghaei said management of the strait must be decided by Iran and Oman.
Fars also reported that the strait could be reopened under Tehran’s conditions once U.S. restrictions are lifted, and claimed there was agreement in principle on the release of $12 billion in frozen Iranian assets.
Meanwhile, Trump said no funds would be exchanged “until further notice.”
U.S. President Donald Trump said on Friday he will soon decide on a proposed agreement to extend the ceasefire with Iran, as negotiations continue to narrow gaps on key issues central to the conflict.
Trump said earlier in the day that he would meet in a secure White House room to make a “final determination” on a plan that would extend an early-April truce by 60 days, allowing more time for talks toward a permanent settlement.
The White House later confirmed the meeting had concluded but did not disclose details of the outcome.
A senior Iranian source also told Reuters that an agreement was close but had not yet been approved.
European shares rose on Friday and were on track to end the month higher, as investors took comfort from expectations that a proposed deal to extend the Middle East ceasefire and restore shipping through the Strait of Hormuz could be finalised.
The agreement was yet to be approved by U.S. President Donald Trump, sources said, and did not address more complex issues such as Iran's nuclear programme.
The pan-European STOXX 600 .STOXX was up 0.3% at 626.91 points, as of 07:15 GMT, and poised to end the week higher.
The benchmark index had come within striking distance of record highs earlier this week and is on course for a second consecutive monthly gain, but escalating tensions in the Middle East capped further advances.
Prices of crude oil, a key resource for energy-deficient Europe, slipped and were on track for their first weekly drop in two months.
Elevated energy prices, however, have begun feeding through to consumers, as a preliminary estimate from France showed inflation accelerated in May from the previous month. Inflation readings from Germany and Italy are due later in the day.
Defence stocks .SXPARO were among top sectoral gains with a 1.4% climb. Tensions were high between Russia and Ukraine, and NATO member Romania said a drone injured two people in a southeastern city during an overnight Russian attack on Kyiv.
Defence stocks tend to rise when geopolitical tensions escalate, as investors anticipate stronger near-term demand for military equipment and services.
Among top movers, CTS Eventim EVDG.DE jumped 11% after the German ticket firm said its revenue grew by 23% in the first quarter of 2026, driven by strong demand for live entertainment.
U.S. Treasury Department Secretary Scott Bessent said on Thursday that Washington would not tolerate attempts to introduce transit charges in the strategic waterway, which is one of the world’s most important energy shipping routes.
“The United States Government will not tolerate any effort to impose a tolling system in the Strait of Hormuz,” Bessent wrote on X.
He specifically warned Oman against becoming involved, either directly or indirectly, in facilitating such a mechanism.
“Oman, in particular, should know that the U.S. Treasury will aggressively target any actors involved directly or indirectly in facilitating tolls for the Strait and any willing partners will be penalised,” he added.
The warning comes amid rising tensions over control and access to the Strait of Hormuz, through which around a fifth of global oil supplies normally pass. Reports earlier this week suggested Iran and Oman could play a role in overseeing shipping traffic through the waterway as part of a possible agreement linked to ongoing regional negotiations.
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Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf.
Israeli Prime Minister Benjamin Netanyahu has told U.S. President Donald Trump that Israel does not consider itself bound by a Lebanon-related provision in an emerging agreement with Iran, according to Israeli officials.
Switzerland on Sunday rejected a referendum proposal to cap its population at 10 million, a projection showed, as voters prioritised economic stability and the country's ties with the European Union over immigration concerns.
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf.
U.S. and Iranian officials said on Sunday they have agreed on a deal to end their war, halt the U.S. blockade of Iran and reopen the Strait of Hormuz, possibly leading to lower energy prices once oil shipments resume through the critical waterway.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior Iranian official told Reuters that a draft memorandum with the U.S. covers issues including Iran’s nuclear programme, reopening the Strait of Hormuz, and U.S. waivers on oil sanctions, with further negotiations expected within 60 days of an initial agreement.
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