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U.S. President Donald Trump announced that an agreement with Iran is scheduled to be signed on Sunday, stating that the Strait of Hormuz will be reopened to all shipping immediately after the deal enters into force.

In a post on Truth Social on Saturday, Trump wrote, "The agreement is scheduled to get signed tomorrow, and immediately after it is signed, the Strait of Hormuz is open to all," expressing hope that the process would proceed quickly, smoothly and without complications.

The U.S. president also stressed that Washington would not release any frozen Iranian assets following the signing of the agreement, "as the administration of former President Barack Obama did," according to his statement.

Trump added that U.S. relations with Iran are "completely different and much better than those under previous administrations," asserting that Iran "no longer wants to possess a nuclear weapon and will not obtain one through purchase, development or any other means." He further warned Tehran that "if it does not do what we want, we have the appropriate alternative