Iran peace deal looms while new military action flares near Strait of Hormuz

The United States and Iran are on the verge of signing a deal to end their conflict, according to a senior US administration official who announced Friday that both sides had agreed on the text of an initial agreement.

Iranian Foreign Minister Abbas Araqchi declared Iran the "winner of the war with the US," suggesting the tentative agreement showed his country's strengthened position. However, just hours after his remarks, US forces intercepted multiple Iranian drones near the Strait of Hormuz, which a source indicated posed a threat to commercial shipping.

The draft memorandum of understanding reportedly includes provisions for reopening the Strait of Hormuz and lifting the US naval blockade on Iranian ports. Negotiations concerning Iran's nuclear program, the initial justification for the conflict by the Trump administration, are slated to occur after the initial deal is signed.

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Iran is the winner of the war with the US.

While a US official described the deal as meeting President Trump's core objectives, reports from various sources suggest the terms might favor Iran, a point that drew criticism from Trump himself, who dismissed the reports as inaccurate. The proposals appear to offer Tehran much of what it sought, with Trump seemingly securing little beyond the reopening of the vital waterway, which Iran had previously closed.

Iranian officials indicated that Iran, in conjunction with Oman, would maintain control over traffic through the strait, a critical chokepoint that once handled a fifth of the world's oil and gas supply. The deal could be signed as early as Sunday, with Geneva or Europe mentioned as potential venues. The agreement's terms suggest the US would release billions in frozen Iranian assets and waive sanctions on its oil exports in exchange for Iran opening the strait, with nuclear program talks to follow within a 60-day period.

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Our sword will always hang over the Strait of Hormuz.