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Trump Says Strait of Hormuz Could Be 'Jointly Controlled' Between US, Iran
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March 23, 2026
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8:56Now PlayingAnja Manuel, Aspen Strategy Group Executive Director and former US diplomat, about the latest developments in the war with Iran and US-China relations said it probably will take weeks before oil tankers might be able to navigate the Strait of Hormuz and any military operation to clear the waterway would be difficult.
President Donald Trump said the US would postpone strikes against Iran’s energy infrastructure after what he called “productive conversations” with the country, in comments that spurred confusion over the participants in the talks and parameters of a deal.
Trump told reporters on Monday that he was holding off on striking Iranian energy infrastructure for five days, citing “major points of agreement” with Iran. Trump said special envoys Steve Witkoff and Jared Kushner had discussions Sunday into the evening with a “top person” on the Iranian side, claiming both parties were keen to “make a deal” and would talk again Monday by phone.
“Iran has one more opportunity to end its threats to America and their allies, and we hope they take it,” Trump said later Monday in Memphis. “It could very well end up being a very good deal for everybody,” he added, repeating that Iran cannot be allowed to secure a nuclear weapon.
Trump suggested the US and Iran could jointly control the Strait of Hormuz, the vital waterway that’s been essentially closed since the start of hostilities, roiling global energy markets. Trump said the strait could be open very soon “if it works.”
Brent crude plunged from $112 a barrel to as low as about $96 after Trump signaled negotiations were underway even as Iran denied the talks. Prices were trading below $102 a barrel by 12:44 p.m. in New York as the Trump administration races to kick-start regular shipping flows through Hormuz.
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