Donald Trump has said a peace deal is scheduled to get signed tomorrow with the Hormuz Strait 'open to all immediately after' The US President has said a deal will be signed but warns of 'ultimate alternative' if the process fails.

In a post on social media shared by Trump on Saturday afternoon, he said that the truce agreement was hours away. “The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL,” he posted on Truth Social.

But Iran’s Foreign Ministry spokesman Esmaeil Baghaei previously said this afternoon that the signing of the deal would not be taking place tomorrow. Mr Baghaei blamed the “inconsistency” of the US for the delay, adding Iran needed to “remain cautious”.

A senior official in the White House administration said that, under the terms of the so-called memorandum of understanding (MOU), the Strait of Hormuz would be reopened and the US would lift its blockade on Iranian ports. Iran's highly enriched uranium would also be destroyed on site and ⁠then taken out of the country, the official said.

A Downing Street spokesperson said:

“The Prime Minister spoke to the President of the United States, Donald Trump, this afternoon.

“The Prime Minister expressed his support for President Trump’s efforts to bring the conflict with Iran to an end, welcoming the progress made and underlining the importance of ensuring any deal delivers a durable and lasting peace.

“The Prime Minister reiterated that the UK stands ready to support the implementation of any peace agreement and to work with international partners to ensure its success.

“Both leaders agreed that freedom of navigation must be restored to ease the economic impacts felt globally.

“They agreed to stay in close contact and looked forward to speaking at next week’s G7 summit.”