US, Iran Near War-Ending Deal; Strait of Hormuz Reopening Key

The United States and Iran announced they are nearing a preliminary agreement to end their conflict, with a senior U.S. official stating that consensus has been reached on the text of a memorandum of understanding. The deal, expected to be signed in the coming days, aims to reopen the Strait of Hormuz and lift U.S. maritime blockade sanctions on Iranian ports. Negotiations on Iran's nuclear program will be addressed later, a key point that initially prompted the U.S. to launch the war under President Trump's administration.

Iranian Foreign Minister Abbas Araqchi indicated that while the text could still change, the preliminary agreement signifies Iran's strengthened position after the conflict. He asserted on national television, "Iran is the winner of the war with the United States." Sources familiar with the negotiations described the draft memorandum as potentially beneficial to Iran, a characterization that President Trump has refuted, dismissing such reports as false. Despite minor discrepancies in details, the proposals largely meet Iran's demands, with Trump gaining little substantial progress beyond the reopening of the Strait of Hormuz.

According to Reuters, the draft memorandum suggests the U.S. would begin releasing billions of dollars in frozen Iranian assets and grant waivers on sanctions targeting Iranian oil exports. In return, Iran would open the Strait of Hormuz, and its nuclear program would be resolved through 60-day negotiations. A U.S. official, speaking anonymously, suggested the agreement would ultimately dismantle Iran's nuclear program, with its enriched uranium stockpiles destroyed and removed, subject to inspection mechanisms to ensure long-term compliance. However, sources indicated Iran has not agreed to abandon its nuclear program, with Araqchi stating Tehran's preferred solution for its enriched uranium stockpile is dilution.

Western and Iranian sources also mentioned discussions about potential war reparations to Iran and the U.S. dropping long-standing restrictions on Iran's missile program, claims denied by the anonymous U.S. official. "No funds will be released until Iran complies. The Strait of Hormuz will be opened. Iran must not fund terrorist organizations. This is what they have agreed to. This is a performance-based agreement," the official stated. The memorandum could be signed as early as the 14th by U.S. Vice President JD Vance and Iranian Parliament Speaker Mohammad Baqer Qalibaf, likely in Geneva, Switzerland. Iran's foreign minister, however, suggested a remote signing followed by an announcement. Israel, a U.S. ally in the conflict, was not involved in the negotiations. Prime Minister Benjamin Netanyahu stated Israel would not be a signatory, amid recent friction with Trump over U.S. demands for Israeli restraint in Lebanon to facilitate the Iran deal. Araqchi implied the agreement would end the war in Lebanon, suggesting an Israeli withdrawal from occupied territories, a claim disputed by Israel's defense minister.