Washington, June 11 -- US President Donald Trump on Thursday (local time) announced that a "great settlement" has been made that could end the conflict with Iran, saying the deal was close to being finalised. He said that the Strait of Hormuz will officially open as soon as the "great" Iran settlement is signed.

He added that the Strait of Hormuz would officially reopen once the Iran deal was signed, possibly this weekend in Europe, with Vice President JD Vance attending on his behalf.

Speaking in the Oval Office, Trump said, "We just made a great settlement of the war with Iran, and we're going to be subject to finalisation of documents. We should get done over the next few days. We'll probably have a signing, maybe in Europe. When oil...