Trump claims peace with Iran is within reach, deal details emerge

A potential peace deal between the United States and Iran, aimed at halting the ongoing conflict, is reportedly nearing completion, with Geneva emerging as the most probable location for the signing ceremony. Western sources suggest the memorandum could be finalized and signed as early as Sunday.

Negotiators are working to complete the agreement's wording by Saturday. US Vice President JD Vance and Iranian Parliament Speaker Mohammed Baqer Qalibaf are slated to sign the document. Iran, however, continues to insist that the accord must include a cessation of hostilities in Lebanon, where a conflict between Israel and the Iran-backed Hezbollah is ongoing.

US President Donald Trump announced on Thursday that he was abandoning plans for further attacks on Iran, stating that a deal was "practically done." According to Iranian officials, the draft agreement addresses many of Tehran's key demands, including the lifting of oil sanctions, the unfreezing of billions of dollars in Iranian assets, and a halt to hostilities on all fronts, including Lebanon. Nuclear issues are to be addressed in later negotiations.

While Washington seeks to ensure Iran never develops nuclear weapons, Tehran maintains it has no such intentions. The lifting of sanctions, unfreezing of Iranian funds, and an end to Israeli attacks on Lebanon are central to Iran's demands. Mehr News Agency reported that the deal also includes significant US concessions, such as the withdrawal of US forces from the region and a plan for Iran's economic reconstruction, reportedly valued at at least $300 billion.

Trump's announcement, made just hours after he had threatened severe military action against Iran, has already spurred a rise in global stock markets and a drop in oil prices, with Brent crude falling over two percent. This potential breakthrough follows previous claims by Trump of an imminent deal that had not materialized.