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Donald Trump says ships are "starting to move" again through the Strait of Hormuz, though BBC Verify analysis suggests we are yet to see a major spike in traffic.
Iranian Ministry of Foreign Affairs spokesman Esmail Baghaei, who says that both Oman and Iran will be taking "necessary measures" to ensure the "safe" passage of ships through the Strait of Hormuz.
He says this will be conducted "in consultation with other stakeholders".
Baghaei also claims that the US has committed to taking action when it comes to rebuilding Iran following the damage it has seen during the war, and for lifting economic sanctions on Iran.He says that the US had committed to taking action in both cases.
US markets opened sharply higher after the news. Oil prices have fallen - and there is "now every chance of avoiding a prolonged energy shock", writes the BBC's Faisal Islam
The deal includes an end to "military operations" in Lebanon, which has welcomed it. Iran describes the end of the war there as an "inseparable" part of the agreement
However, Israel says its forces will remain in the country indefinitely
US Vice President JD Vance says ships passing through the Strait of Hormuz will not need to pay a toll to Iran as part of the framework deal reached on Sunday.
"Our expectation is that the strait is going to be opened in a toll-free way for the long term," Vance tells CNBC.
Following the start of the conflict, Iran has implemented a system to collect levies from ships passing through the vital shipping lane.
Vance acknowledges that toll-free access may be temporary but the plan is to continue discussions with Iran in the coming days for a more permanent solution.
“That’s the sort of thing that we are going to figure out in these technical negotiations,” he adds.
“There are a lot of very important details to figure out that we are actually going to sit at the table and discuss together and figure out a path forward on these details."
A spokesperson for Iran's Ministry of Foreign Affairs says ending the conflict in Lebanon is a pivotal part of the framework agreement Tehran and the US reached.
As a reminder, negotiator Pakistan says both the US and Iran "declared the immediate and permanent termination of military operations" in Lebanon as part of the deal
Speaking at a weekly news conference, Esmail Baghaei says: "Lebanon and the end of the war in Lebanon are an inseparable part of the agreement to end the war."
He also says the US "must ensure" that Israel follows suit, adding that "any violation of the agreement by other actors and the United States’ allies in the region will also fall under the responsibility of the American side".
Earlier, Israel's defence minister said the IDF intended to maintain its presence in Lebanon without any time restraints.