Peace deal 'very close' as details emerge but Tehran launches attack
Details have emerged of a proposed peace deal between the US and Iran, including the reopening of the Strait of Hormuz, with a truce said to be 'very close'. A US-Iran peace deal is said to be very close, according to mediators and officials.
A truce between the US and Iran which would reportedly involve the reopening of the Strait of Hormuz and the regime 'neither developing, nor procuring nuclear weapons' is said to be very close. Pakistan's Prime Minister Shehbaz Sharif, acting as a mediator in the peace talks, said on X that 'peace has never been this close as it is now.'
A senior official in the White House administration said that, under the terms of the so-called memorandum of understanding (MOU), the Strait of Hormuz would be reopened and the US would lift its blockade on Iranian ports. Iran's highly enriched uranium would also be destroyed on site and then taken out of the country, the official said.
But the situation appears precarious after the US military said it had brought down multiple Iranian attack drones overnight which were attempting to strike commercial ships in the Strait of Hormuz. US President Donald Trump has accused Tehran of leaking inaccurate details of a proposed deal which he said 'have nothing to do with the terms that were agreed to'.
Why deal between US and Iran remains far from clear despite positive steps
Donald Trump said the US is close to signing a deal with Iran to wind down the war, with a memorandum of understanding to be signed in the coming days but there remains plenty of uncertainty over what will happen. Some of the key objectives Trump laid out for the conflict seem to remain unfulfilled. While the Trump administration has said its objectives are clear and unchanging, the list has expanded and shifted as the president and his administration have spoken about the war since it started February 28.
All the while, the conflict has battered the global economy, tested alliances and raised unanswered questions about the planning for the conflict, its justification and its aftermath. Pakistani Prime Minister Shehbaz Sharif said the US and Iran have reached a 'final, agreed upon text'. He said: 'Peace has never been this close as it is now.' Iranian Foreign Minister Abbas Araghchi said Friday an agreement 'has never been closer' in a post on X, which was also shared by Trump.
But at the same time no details have been shared and Trump has said multiple times in recent weeks the countries are on the cusp of a deal. By most accounts, the strikes by the US and Israel have significantly degraded Iran's military capabilities and killed scores of senior leaders. But those tactical successes don't necessarily translate into achieving all the president's aims. Iranian officials said nuclear details will follow an agreement to end the war despite this having been set out by the US President as his main reason for the conflict.
What peace deal would mean for the Strait of Hormuz
Keeping shipping traffic flowing through the Strait of Hormuz was not one of the reasons for launching the war, but after Iran leveraged its ability to effectively shut traffic through the strait, it has become a key problem. The strait is a chokepoint for 20% of the world's oil and natural gas and its effective closure since the war has spiked global energy prices, along with the costs of other goods. Iran had allowed ships seen as friendly to pass through, while charging considerable fees. Donald Trump has said that a proposed deal with Iran would include the reopening of the strait and the US ending its blockade of Tehran's ports.
Iran's Foreign Minister shares details of peace agreement
Iran's Foreign Minister Abbas Araghchi has revealed more details of the MoU to state media and claims the agreement will resolve issues around the US naval blockade and the Strait of Hormuz. During an interview with Iranian media, Aragchi said the agreement will include: A pledge from the US not to start a war or threaten Iran; Both Washington and Tehran agree to respect each other's sovereignty and to not interfere in each other's internal affairs; An end to the war on all fronts, including in Lebanon. 'We will never leave Lebanon alone,' the minister added. The text of the MoU has reportedly been changed many times, he said, and the nuclear issue has been postponed until a later date after Aragchi claimed 'The US nuclear demands were not acceptable to us at this stage at all.' The foreign minister has yet to sign the MoU but is widely expected to over the coming days.
Trump accuses Iran of leaking 'fake' peace deal terms
Donald Trump has accused Iran of leaking 'fake' peace deal terms that bear 'no relation to the truth'. 'What they said, including their weak and pathetic statement on having a deal, bears no relation to the truth,' Trump said in a post on X. 'Very dishonourable people to deal with. With them, there is no such thing as dealing in good faith,' he added.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu said 'Iran will not have nuclear weapons' and that 'President Trump and I are in full agreement on this issue.' Netanyahu's statement came after Iranian state media reported that any discussion between Iran and the US of the Strait of Hormuz and Tehran's nuclear programme will take place after any initial preliminary agreement.
US forces shoot down Iranian drones
US Central Command wrote in a post on X: 'Iran launched multiple one-way attack drones in an attempt to strike commercial ships transiting the Strait of Hormuz. U.S. forces have downed all of them in recent hours as traffic flow through the strait continues unimpeded. The international trade corridor remains open for transit.'
In other developments, the UK economy has shrunk as fuel price rises caused by the war in Iran have impacted spending. The Office for National Statistics data shows that Gross domestic product (GDP) shrank by 0.1% in April. Oil prices fell after Trump cancelled an attack on Iran, with Brent futures falling 3.6% to $89.73 a barrel.
