Trump Says U.S. And Iran Near Deal To Extend Ceasefire And Reopen Strait Of Hormuz

President Donald Trump said on Thursday that the United States and Iran were nearing an agreement to settle a three-and-a-half month-long conflict that has closed the Strait of Hormuz, sent oil shocks through the world, and affected global growth projections.

Iranian Foreign Minister Abbas Araghchi said on Friday that the two sides have “never been closer” on terms, while Pakistani Prime Minister Shehbaz Sharif claimed in a social media post that “a final, agreed upon text of the peace deal has been reached.”

ABC News

Neither the United States nor Iran has shared the terms that could be included in a potential agreement, and Trump said he was not “100 percent” certain they had reached a deal.

The expectation described by the Council on Foreign Relations is that a memorandum of understanding (MOU) would extend the ceasefire for at least sixty days and open the Strait of Hormuz, a choke point for nearly one-fifth of the world’s oil and natural gas supply.

Steven Cook, a senior fellow for Middle East studies at the Council on Foreign Relations, said, “Even if they do and an MOU is announced, negotiations on the outstanding issues, especially on Iran’s nuclear program, will be long and difficult.”

Iranian Foreign Minister Abbas Araghchi told مونت كارلو الدولية that “We are today closer than ever to a deal on a memorandum of understanding,” and said the media should refrain from speculation that spoils the negotiations.

In the same report, the Iranian Foreign Ministry spokesperson reassured Iranians that the negotiating team will not bow to or compromise on what was described as Iran's red lines, including uranium enrichment and obtaining the frozen Iranian funds while reducing economic sanctions imposed on Tehran.

Al Jazeera

The الجزيرة نت report said Trump responded to Iranian leaks by saying the conditions leaked by Tehran to the media are false and have nothing to do with the conditions written into the agreement, adding, “What the Iranians stated, including their weak and pitiable statement about reaching an agreement, is not true at all.”

Axios was cited by الجزيرة نت for a claim that Trump said Iran privately apologized for providing false information about the agreement, while the report also said Araqchi described the MOU as consisting of 14 clauses that are not finished yet.

Araqchi told الجزيرة نت that the memorandum of understanding includes lifting the blockade and the Strait of Hormuz, mechanisms regarding frozen funds, and issues concerning the nuclear file, while he said the passage is under Iran and Oman sovereignty and lies within their territorial waters.

The Council on Foreign Relations described an expectation that an MOU would extend the ceasefire for at least sixty days, while negotiations would continue on issues including the future of Iran’s nuclear program.

“Tehran, Iran – The anniversary of a 12-day war between Iran and Israel in June 2025 is being marked this week in Tehran, as American and Iranian officials engage in last-minute negotiations to end a more recent conflict between the two sides”

Al Jazeera

The الجزيرة نت report said Araqchi described two stages, with the first beginning with signing a memorandum of understanding and the second stage lasting 60 days to discuss the disputed files, while he said the nuclear file and sanctions would be postponed to that second stage.

Al Jazeera reported that Tehran is marking the anniversary of a 12-day war between Iran and Israel in June 2025 as American and Iranian officials engage in last-minute negotiations to end a more recent conflict, and it said Iranian cities are hosting commemorations for dozens of senior military commanders killed between 13 to 24 June 2025.

Al Jazeera also said more than 1,000 Iranians were killed in the US-Israeli 12-day bombing campaign, while at least 3,468 people have been killed, close to half of them civilians, in Iran’s current war with the US and Israel, according to government figures.

Speaking to state television on Friday night, Abbas Araghchi said, “The negotiations did not lead to war, resistance led to war. Our enemies had demands that they tried to reach during negotiations, we resisted, they turned to war,” linking the stakes of the current talks to the broader conflict narrative.