US, Iran nearing peace deal, with oil sanctions potentially lifted: reports

Former U.S. President Donald Trump announced that a peace agreement with Iran is "practically closed," with final details under discussion and expected to be announced soon. He stated on his social media platform, Truth Social, that the deal would reopen the Strait of Hormuz, though other elements were not specified.

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there is a text “practically closed” for a peace agreement with Iran and that “the final aspects and details are currently being discussed and will be announced shortly.”

Iranian state media, citing the semi-official Tasnim agency, reported that a draft peace deal includes ending the war on all fronts and suspending sanctions on Iranian oil during negotiations. However, Tasnim also stated that Iran has not yet agreed to any specific measures regarding its nuclear program, contradicting earlier reports. The agency suggested the potential agreement allows 30 days for procedures related to the Strait of Hormuz and 60 days for nuclear program negotiations.

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the draft peace agreement includes the end of the war on all fronts and the suspension of sanctions on Iranian oil during the negotiation period.

Pakistan's Foreign Minister Ishaq Dar announced that "significant progress" has been made in the U.S.-Iran negotiations. Earlier, Pakistani Prime Minister Shehbaz Sharif congratulated Trump for his "extraordinary efforts" to promote peace. Pakistan remains committed to continuing the talks and anticipates hosting the next round.

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significant progress has been made