Sources have unveiled details of the final draft for the U.S.-Iran peace agreement, stipulating a 60-day truce and the reopening of the Strait of Hormuz. During this period, negotiations will focus on highly enriched uranium, while the U.S. will ease sanctions against Iran and lift the blockade.
The sources also reported that Iran has given its final approval, conveyed by Qatar to the U.S., and a mediator will oversee any breaches of the agreement.
On Thursday, U.S. President Donald Trump announced the potential signing of a peace agreement with Iran as early as next week, which could resume shipping traffic through the Strait of Hormuz. If realized, this would mark a significant diplomatic breakthrough, ending a three-month conflict that has claimed thousands of lives and sharply raised global energy prices.
According to Iran's semi-official Fars news agency, Tehran is likely to agree to the deal but has not yet issued an official response. Trump stated, "We've just reached a great resolution to the war with Iran," indicating that the strait could be officially reopened upon the agreement's signing, possibly occurring in Europe within days.
Vice President J.D. Vance may sign the deal on behalf of the U.S. When asked about Iranian Supreme Leader Ayatollah Mojtaba Khamenei's approval, Trump responded, "It’s understood that the answer is yes."
The announcement follows Trump's decision to cancel planned U.S. airstrikes on Iran, citing diplomatic progress. Since mid-March, Trump has consistently hinted that a peace deal with Iran was near despite recent conflicts that threatened the cease-fire declared in April.
Trump emphasized that any peace agreement must ensure Iran does not develop nuclear weapons. Iran's demands include lifting international sanctions, releasing billions in frozen assets, and recognizing its sovereignty over the Strait of Hormuz.
Trump declared, "We have a deal ensuring Iran will never possess a nuclear weapon. This is crucial."
Trump also noted regional leaders' support for the agreement, and indirect U.S.-Iran talks on a preliminary peace deal are gaining momentum. A political understanding has been reached, but some detailed matters remain unsettled.
Republican critics argued that any agreement must prevent Iran from acquiring nuclear weapons, recalling how internal opposition previously blocked a similar endeavor. Analysts suggest Trump is wary of comparisons to the 2015 nuclear accord, which he criticized as too lenient and exited in 2018.
Trump posted on social media that the agreement has been approved at the highest levels in Iran and by Middle Eastern nations, including Saudi Arabia, Qatar, UAE, and Israel. Both Trump and Israeli Prime Minister Benjamin Netanyahu confirmed discussing the matter Thursday.
Netanyahu’s office clarified that Israel is not part of the memorandum but appreciates Trump's commitment to an agreement addressing enriched nuclear materials. Trump announced plans to soon discuss further with Turkish President Recep Tayyip Erdogan.
Following these developments, oil prices dropped significantly while stock markets surged. The ongoing conflict has resulted in numerous casualties, primarily in Iran and Lebanon, and has driven oil prices up since the U.S. and Israel's airstrike campaign on Iran began on February 28.