US President Donald Trump said on Friday, 29 May that he was preparing to make a final determination on a potential agreement with Iran, outlining terms that include a permanent ban on nuclear weapons and the immediate reopening of the Strait of Hormuz to unrestricted shipping. The announcement, made via a post on social media platform X, came without confirmation from Iranian officials that the proposed terms had been formally accepted.

Key Terms Trump Outlined

Trump stated that any deal would require Tehran to permanently forgo nuclear weapons. “Iran must agree that they will never have a Nuclear Weapon or Bomb,” he wrote. He also demanded the Strait of Hormuz be opened immediately, specifying “no tolls, for unrestricted shipping traffic, in both directions.”

The President added that a US naval blockade of the waterway would be lifted, and that ships caught in the strait could “start the process of heading home.” He said US forces had already removed numerous mines from the waterway, with Iran reportedly set to complete the removal or detonation of any remaining devices.

Nuclear Material and the B-2 Strike

Trump also addressed the status of Iran’s nuclear programme, claiming that enriched material buried underground following a US military strike approximately 11 months ago — carried out using B-2 bombers — would be recovered and destroyed. He described the material as “Nuclear Dust” buried beneath collapsed mountain terrain caused by the strike.

According to Trump, the operation would be conducted “in close coordination and conjunction with the Islamic Republic of Iran, plus the International Atomic Energy Agency (IAEA), and DESTROYED.” He did not provide a timeline or technical details for how this recovery would be carried out.

Financial Terms and What Remains Unclear

Trump stated that “no money will be exchanged, until further notice,” ruling out financial transfers as part of the immediate arrangement. He noted that “other items, of far less importance, have been agreed to” but declined to elaborate.

Notably, the President did not disclose the status of negotiations, nor did he indicate whether Iranian officials had formally accepted any of the terms he described. He said he would be convening in the White House Situation Room to make a final determination, suggesting a decision was imminent but not yet concluded.

What It Means for India and Global Energy Markets

Any development involving the Strait of Hormuz carries outsized significance for global energy markets. The waterway is a critical transit corridor for a substantial share of the world’s oil and natural gas supplies, and disruptions have historically triggered price spikes and supply anxiety.

For India, the stakes are particularly high. The country imports a large portion of its crude oil requirements from the Gulf region, and past disruptions in the strait have raised concerns about energy security, elevated shipping costs, and broader inflationary pressures on the domestic economy. A durable agreement that restores free navigation would be closely watched by New Delhi as much as by Washington and Tehran.

Whether the terms Trump outlined translate into a signed agreement — and whether Iran publicly endorses them — remains to be seen as the White House moves toward its stated final decision.