The United States and Iran are signaling that a peace agreement is closer than ever, following a conflict that began on February 28. However, significant disagreements over the deal's terms have already appeared. Pakistan's Prime Minister, Shehbaz Sharif, announced that a "final, agreed upon text" has been reached, acting as a mediator in the talks. Iranian Foreign Minister Abbas Araghchi also expressed optimism, stating that a deal has "never been closer."
A senior official from the Trump administration confirmed the progress, telling reporters that the U.S. expects to sign an agreement ending the war "within the next few days." The proposed agreement aims to formally end the conflict across all fronts, including in Lebanon.
This potential breakthrough has already affected global markets, with oil prices falling due to optimism for a resolution. A key part of the deal involves reopening the Strait of Hormuz, a vital shipping lane that Iran controlled during the war. The U.S. had called this a violation of international law.
However, public disputes quickly arose over the deal's substance. Iranian state media reported that the agreement includes the U.S. releasing $24 billion of frozen Iranian financial assets. U.S. President Donald Trump strongly rejected this, stating, "The terms that Iran leaked out to the Fake News have NOTHING to do with the terms that were agreed to, in writing."
U.S. officials described the agreement as "performance-based." This means Iran would only receive economic benefits after meeting specific obligations, such as dismantling its nuclear program. The deal also reportedly includes long-term inspections to ensure compliance.
The negotiations are expected to happen in two stages. The initial agreement would be followed by a 60-day period to discuss more complex issues like sanctions relief and Iran's uranium enrichment. If these talks fail, both sides can return to their previous positions.
The agreement also includes commitments for both nations to respect each other's sovereignty and not to interfere in internal affairs. Iran's Supreme National Security Council has overseen the negotiations.
The regional effects of the deal are significant. Israel, which is not part of the talks, has stated it will not change its military stance. Israeli Prime Minister Benjamin Netanyahu said his country would not withdraw from "security zones" in Lebanon.
As mediators in Pakistan work to finalize the next steps, the world watches to see if the document can bridge the gap between the two nations or if disputes will derail the fragile peace.