A deal between Iran and the United States to end recent fighting is reportedly close to completion and would include reopening the Strait of Hormuz, Iran’s Foreign Minister Abbas Araghchi said on Saturday.
Speaking to state television, Araghchi confirmed the agreement also includes lifting a US blockade on Iranian shipping, although talks on Tehran’s nuclear program would only begin afterwards. Meanwhile, US officials have verified parts of the deal, noting that any economic benefits for Iran would depend on Tehran fulfilling its commitments.
The conflict began after US and Israeli strikes hit targets across Iran on 28 February, prompting Tehran to retaliate against Israel and US-allied Gulf states while effectively shutting the Strait of Hormuz, a vital route for global oil and gas shipments. Although a ceasefire was reached in April, both countries have continued exchanging intermittent fire, including two rounds of strikes this week.
On Thursday, US President Donald Trump said he had cancelled “scheduled attacks” on Iran because negotiators had “just made a great settlement”. However, after Iranian media revealed details of an alleged 14-point agreement on Friday, Trump dismissed the report, saying it “bears no relation to the truth”.
Hours later, Pakistani PM Shehbaz Sharif, whose country helped mediate, confirmed that Washington and Tehran had reached a Memorandum of Understanding (MoU) and are awaiting finalisation.
What the Deal Involves
According to Araghchi, opinions remain divided within Iran’s Supreme National Security Council. “For now, we must wait. If approved, the agreement will be signed remotely,” he said.
US officials briefed reporters on Friday, confirming that reopening Hormuz would happen alongside the lifting of the US shipping blockade, with both steps taking effect almost immediately. A 60-day negotiation period would then follow, focused on dismantling Iran’s enriched uranium stockpile, although the exact removal process remains undecided.
Officials stressed that the deal would not transfer any funds upfront, instead, sanctions relief and asset unfreezing would occur gradually, based strictly on verified Iranian compliance, not on promises. The deal also requires Iran to halt funding for regional proxy groups, including Hezbollah.
Despite cautious optimism from Washington, Tehran, Islamabad, and Doha, officials acknowledge that previous similar agreements have collapsed before finalisation. Still, US officials say this attempt carries greater transparency and confidence than earlier rounds.
