US President Donald Trump announced Saturday that a peace agreement with Iran has been "largely negotiated," subject to finalization between the United States, Iran and other relevant countries in the Middle East.

As part of the agreement, the Strait of Hormuz will be opened, Trump said in a post on Truth Social.

Final aspects and details of the deal are being discussed and will be announced shortly, he said.

On Saturday afternoon, Trump spoke by phone with Gulf and other regional leaders to review Iran's latest proposal.

Trump said he also had a separate call with Israeli Prime Minister Benjamin Netanyahu, which, likewise, went very well.