US President Donald Trump has shared a draft peace agreement for the war with Iran with allies including Israel, as both sides attempt to prevent ceasefire violations from derailing a potential deal. The move comes amid ongoing tensions, with Iran targeting a US airbase in Kuwait on Thursday after Washington struck an Iranian drone operation near the Strait of Hormuz.
The draft, similar to one circulating in the Middle East for days, proposes opening the Strait of Hormuz to commercial shipping, lifting the US blockade of Iranian ports, and releasing up to $12 billion (£9 billion) in frozen Iranian assets. Commercial shipping would aim to return to pre-war levels within 30 days, followed by up to 60 days of negotiations on Iran’s nuclear programme, including its enriched uranium stockpile, a suspension of enrichment, and IAEA supervision. Iran would renounce nuclear weapons.
US Vice-President JD Vance said both parties were close to a deal but noted sticking points over Iran’s enriched uranium stockpile and enrichment. China is pushing for UN Security Council ratification. The agreement is unpalatable for Israel as it defers firm nuclear commitments and requires a permanent ceasefire including Lebanon.
Iran is seeking a separate agreement with Oman for tolls on navigational services, but Trump threatened to “blow up” Oman if it imposed tolls. The Islamic Revolutionary Guard Corps navy asserted control of the Strait, granting passage to 26 ships in 24 hours and stopping four vessels trying to sail without permission. Oil prices rose 2% on Thursday but remained below $100 a barrel.
Indirect talks mediated by Pakistan and Qatar continue, with Pakistan’s foreign minister Mohammad Ishaq Dar flying to Washington on Friday. Iran’s deputy foreign minister Ali Bagheri reiterated demands for unconditionally released frozen assets, while the US imposed sanctions on Iran’s Persian Gulf Strait Authority and threatened sanctions on Oman if it helped impose tolls. Iran’s supreme leader Mojtaba Khamenei told officials not to turn negotiations into a crisis.
