Trump and Sharif confirm final peace text as US and Iran clash over terms
Pakistani mediation yields agreed-upon document, but Washington insists on full nuclear dismantlement and Strait of Hormuz access before any sanctions relief or asset release.
A diplomatic breakthrough in the conflict between the United States and Iran has been declared, with Pakistani Prime Minister Shehbaz Sharif confirming that a final, agreed-upon text for a peace deal has been reached. Sharif, who has been mediating between the two nations, stated that Pakistan is working closely with both sides to finalise the next steps, asserting that peace has never been closer than it is now.
US President Donald Trump echoed these sentiments, announcing the cancellation of scheduled attacks against Iran due to a "great settlement" that is expected to be signed imminently. Trump reposted a statement from Iranian Foreign Minister Seyed Abbas Araghchi, who claimed the deal was "never been closer." However, the President also accused Tehran of leaking details to the media, describing the reports as "very dishonorable" and bearing no relation to the truth.
The hostilities began on 28 February following joint US and Israeli strikes on Iran, prompting Iranian retaliation against Israel and US-allied states in the Gulf, including threats to close the Strait of Hormuz. Although a ceasefire was declared in April, intermittent fire has continued, including two rounds of tit-for-tat strikes this week. Israel is not involved in the current talks, which are primarily mediated by Pakistan and aim to extend the ceasefire and begin negotiations on key issues.
Discrepancies have emerged regarding the specific terms of the agreement. Iranian media, including the Mehr news agency, published alleged deal provisions that included the lifting of a US naval blockade, at least $300bn in damage repair funds, and a UN Security Council resolution endorsement. These reports suggested that final negotiations would not begin until half of Iran's frozen assets were released and oil sanctions suspended.
US officials have firmly rejected the notion of immediate financial relief. Vice-President JD Vance clarified on X that "Iranians are not receiving any cash" and that no funds would be released simply for signing a deal. A senior administrative official stated that the deal requires nuclear material to be destroyed and the programme dismantled, alongside Iran ceasing funding for groups such as Hezbollah. Vance emphasised that the structure prioritises US and allied concerns, with economic benefits flowing only after Iran meets its obligations, including opening the Strait of Hormuz.
