President Trump and President Macron holding a bilateral meeting at the G7 Summit [EOA=Yonhap News]

U.S. President Donald Trump announced on the 15th (local time) that both sides have signed a memorandum of understanding (MOU) to end the war with Iran, and that the Strait of Hormuz will be fully opened on the 19th, when the signing ceremony is scheduled to take place.

President Trump made these remarks during his opening statement at a bilateral meeting with French President Emmanuel Macron at the G7 Summit, which opened in the French resort town of Evian-les-Bains.

President Trump also emphasized that "the most important thing among the achievements of this end-of-war agreement is that Iran will not possess nuclear weapons." He added, "They fully agreed to this, predicated on strong inspection rights, and they will not have nuclear weapons."

President Trump continued, "During the Barack Obama administration, they tried to buy Iran (for a nuclear deal), but that didn't work. That never works," adding, "We have done a great job, and hopefully, we can maintain a good relationship with (Iran) and get along well."

President Trump further stated that the MOU's contents are "likely to be released soon" after the signing ceremony on the 19th. "I want it to be released because it's a very powerful document," he said, reiterating, "It's different from the terrible document from the Obama era."

President Trump also commented that this agreement "will bring a lot of success to the world because oil supplies in that region have been blocked for some time." He added, "Oil is flowing to us. I consider this a great honor."

When asked by reporters if he would personally attend the signing ceremony in Geneva, Switzerland, on the 19th, President Trump responded ambiguously, "I may or may not attend." He then stated, "VP JD (Vance) is coming for that event."

When asked what kind of support he wanted from allies, President Trump said, "I don't think we'll need much help," explaining, "Because we have an agreement that (the strait) will be open, and there are no tolls." He emphasized that the Strait of Hormuz would be opened for "free" passage.

President Trump continued, "So I don't think we'll need much help, but it wouldn't be a bad idea for a few countries to place a ship or two there." He reiterated, "I see the situation as open and free navigation being possible."

President Trump's remarks about the "free" passage through the Strait of Hormuz contradict an earlier report by Iran's semi-official Fars News Agency, which cited sources claiming that the US-Iran end-of-war MOU recognized Iran's right to collect "transit fees" for the Strait of Hormuz.

The Iranian sources claimed that the final version explicitly states, "Iran and Oman will decide on the future management of maritime navigation services in the Strait of Hormuz," and the specific mention of "maritime services" means that the U.S. has officially recognized Iran's right to collect fees.

For this reason, there appears to be room for disputes between both sides regarding the interpretation of transit fees for the Strait of Hormuz during future working-level negotiations.

Regarding the war in Ukraine, President Trump stated on the 14th that he had "very good conversations" with Ukrainian President Volodymyr Zelensky and Russian President Vladimir Putin.

"I think we might be able to get something done on that issue. Both gentlemen seem open to it," he said, adding, "Now that this (Iran war) is concluded, we will focus on that (Ukraine) issue."

President Macron of France, this year's G7 chair, described the US-Iran end-of-war MOU as "a very important step towards peace" and stated that French forces are ready to assist in ensuring safe passage through the Strait of Hormuz.