- On Saturday, President Donald Trump announced that a peace agreement to conclude the war in Iran would be signed on Sunday.
- Pakistan’s Prime Minister Shehbaz Sharif confirmed that a framework agreement was in place and an electronic signing was scheduled for Sunday.
- However, Iran’s Foreign Ministry expressed caution, questioning the timing of the signing.
WASHINGTON — On Saturday, President Donald Trump and Pakistan, acting as a mediator, announced that a preliminary agreement to end the war in the Middle East would be signed on Sunday. However, Iran refuted the claim that the signing would occur so soon.
Shehbaz Sharif, the Prime Minister of Pakistan, stated that both parties had reached a consensus on a peace deal framework. He added that Islamabad was gearing up for an electronic signing on Sunday, which would be followed by technical-level discussions next week.
In a social media post, Trump also mentioned that the deal with Iran was set to be signed on Sunday. He added that the Strait of Hormuz, a crucial channel for global oil supplies which Iran has blocked, would be “open to all” immediately after the signing.
Earlier on Saturday, Esmaeil Baghaei, the spokesperson for the Iranian Foreign Ministry, advised against speculating on the timing of the signing.
“We will have to wait and see about the exact date of the signing of the memorandum of understanding, although it will not be tomorrow,” Baghaei was quoted by state media.
“The possibility of this happening in the coming days cannot be ruled out. However, due to the hesitation of the other side, we must be cautious in making any comments about this process.”
A U.S. official, who spoke to reporters later, declined to comment on the timing but described it as, “It’s a great deal and a very strong deal.”
This is not the first time the two sides have seemed close to an initial agreement on ending the war that began on Feb. 28 with joint U.S.-Israeli strikes on Iran. However, Sharif stated, ”We are closer to a peace deal than ever before.”
The war has caused a significant increase in global energy prices and resulted in the deaths of thousands of people, primarily in Iran and Lebanon. The war has reignited a conflict between Israel and Iran-aligned Hezbollah militants.
What does the deal entail?
On Friday, Iranian Foreign Minister Abbas Araqchi stated that while changes in the deal were still possible, the tentative agreement demonstrated that his country had emerged stronger from the conflict.
Hours after those remarks, U.S. forces shot down several Iranian one-way attack drones heading toward the Strait of Hormuz, according to a source familiar with the matter.
The source, who requested anonymity, stated that the drones posed a threat to commercial traffic. U.S. Central Command later confirmed the action and announced that the strait, a major artery for global oil supplies, was open.
For months, Iran has effectively blockaded the strait, and the U.S. Navy has blocked Iranian ports to reduce its oil exports.
The proposed memorandum of understanding calls for the reopening of the strait and the lifting of the U.S. naval blockade, according to sources from all sides of the talks. Negotiations over Iran’s nuclear program, which Trump cited as the reason for starting the war, would take place afterward.
“Iran is going to open up the Strait of Hormuz, that’s a requirement. It could be open with no tolls. As they do that, we will lift our blockade,” said the U.S. official who spoke on Saturday.
“It’s going to happen in conjunction, and part of the next step, the phase after that, is going to be the demining of the straits,” the official said, suggesting that countries in the leading industrial nations could play a role in this.
Frozen assets
Draft terms described to Reuters by multiple sources indicate that the U.S. would begin releasing billions of dollars in frozen Iranian assets and waive sanctions on its oil exports, in return for Iran opening the strait.
Iran’s Fars news agency quoted Baghaei as saying the release of Iran’s frozen assets was an integral part of the agreement and also that Iran would have to charge for services in the Strait of Hormuz.
Fars also quoted him as saying that foreign military bases in the region must end, without providing details.
Iran’s nuclear program would be addressed during a 60-day period of talks. A U.S. official said the agreement would ultimately lead to the dismantling of Iran’s nuclear program, with its stockpile of highly enriched uranium to be destroyed and removed.
But Araqchi said that Iran, which sources said has not accepted the dismantling of its nuclear program, wanted to retain the uranium in diluted form.
The proposals also include discussion of possible war reparations for Tehran and dropping longstanding U.S. demands for limits on Iran’s missile program, the sources said. The U.S. official disputed that account.
Israel not party to memorandum
Israeli Prime Minister Benjamin Netanyahu said his country would not be party to the agreement. He has clashed with Trump over U.S. demands that Israel curb military action in Lebanon to allow Washington to reach a deal with Tehran.
Araqchi said the agreement would end the war in Lebanon, implying an Israeli withdrawal from occupied areas.
Israel’s defense minister said it would not withdraw. A senior Israeli official said Israel expects to retain its freedom to act against threats.
Iran’s supreme leader, Ayatollah Ali Khamenei, was killed in an airstrike on the first day of the war and later replaced in the role by his son, Mojtaba. Khamenei’s funeral will begin in Tehran on July 4 and conclude with his burial in his hometown, the northeastern holy city of Mashhad, on July 9, Iranian state media reported on Saturday.
Skeptical of potential deal timing.
Disagree. The timing could hinder progress towards peace.
Disagree – Rushing negotiations could worsen tensions and lead to unforeseen consequences.
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