Diplomatic momentum accelerated this week as the United States and Iran each signaled that a long‑discussed peace framework is nearing completion. U.S. President Donald Trump said the agreement has been “largely negotiated,” while emphasizing that negotiators have been instructed not to rush the final steps.
According to reporting from TIME, the draft agreement under discussion includes reopening the Strait of Hormuz, a key global shipping corridor. However, Iran’s Fars news agency countered that the waterway would remain under Tehran’s management, calling U.S. claims “incomplete and inconsistent with reality.”
U.S. officials told Fox News that the framework is “95% complete,” with negotiators still working through language related to Iran’s nuclear stockpile and the Strait of Hormuz. Iranian President Masoud Pezeshkian reiterated that Iran is not seeking nuclear weapons as talks continue.
Additional reporting from Mint indicates that regional mediation—particularly from Pakistan—has contributed to recent progress. Pakistani officials described the developing memorandum of understanding as “fairly comprehensive,” aimed at ending the conflict and restoring stability in the Gulf region.
Energy markets reacted quickly to the diplomatic signals. The Star reported that oil prices fell roughly 6% as traders anticipated the potential reopening of the Strait of Hormuz and a reduction in regional tensions. Analysts cautioned, however, that several difficult issues remain unresolved and that previous rounds of talks have stalled at similar stages.
While the timeline for a final announcement remains uncertain, U.S. Secretary of State Marco Rubio said the world “may get some good news today,” noting that negotiators are working through the last remaining points. With both sides publicly acknowledging progress, attention now turns to whether the remaining disputes can be resolved in the coming hours or days.
Sources
- Times Now
- TIME
- Fox News
- Mint
- The Star