The United States and Iran are expected to sign an agreement to end the conflict on Friday in Switzerland, according to CNBC. U.S. Vice President JD Vance said the United States expects the Strait of Hormuz to open without tolls for the long term, according to Gulf and Middle East sources. Another account, from India, Russia, and other outlets, reports that Vance said passage through the Strait of Hormuz will be free for 60 days during U.S.-Iran talks. Iranian state media reported that the Strait of Hormuz will open to toll-free transits for a 60-day period, according to CNBC. Vance also said he hopes the text of an agreement to halt the war in Iran and open the Strait of Hormuz will be released this week, according to Al-Monitor. One report from Bluesky claims the U.S. blockade against Iran lifts immediately, while another from Bluesky states the U.S. and regional partners commit to $300 billion for Iran and termination of all sanctions. President Donald Trump is reported to have said the deal opens Hormuz without tolls in exchange for the U.S. ending its naval blockade against Iran, though no source confirms the blockade was lifted prior to the expected signing.