US-Iran peace deal appears close, but remains uncertain

Talks between the United States and Iran have reached a critical stage, with both sides reportedly agreeing on the text of a memorandum of understanding to end their months-long conflict.

Pakistani mediators say the final wording has been settled.

Iranian Foreign Minister Abbas Araqchi stated that a deal “has never been closer,” while claiming Iran has emerged stronger from the war.

However, other Iranian officials have been more cautious, describing some reports as “speculation” and noting that changes to the text are still possible.

The proposed initial agreement would extend the current ceasefire, reopen the Strait of Hormuz for international shipping, lift the US naval blockade on Iranian ports, and release some frozen Iranian assets.

In return, Iran would allow safe passage through the strait. Broader talks on Iran’s nuclear program would then begin within 60 days.

Despite this progress, tensions in the Strait of Hormuz persist. Iranian forces have continued firing warning shots at vessels attempting to pass without permission, and occasional clashes are still being reported.

Geneva, Switzerland is widely mentioned as the most likely venue for a signing, though no official date has been confirmed.

While momentum is clearly building, both sides still need final approval from their leadership, meaning last-minute delays cannot be ruled out.