Pakistani Prime Minister Shehbaz Sharif announced on Saturday, June 13, that the United States and Iran have agreed on a final text for a peace deal to end their months-long war, with an electronic signing expected within 24 hours. Sharif made the announcement via a post on X, stating that Pakistan — which has served as the primary mediator in the negotiations — is now coordinating the final steps with both sides. He added that technical-level talks would begin next week if the deal is signed this weekend.
“A final, agreed upon text of the peace deal has been reached and Pakistan is now working closely with both sides to finalize next steps,” Sharif wrote on X. “Peace has never been this close as it is now.”
Despite the announcement, the signing is not yet confirmed. A Trump administration official added that some uncertainty remains. Neither Washington nor Tehran issued an immediate independent confirmation of the final text on Saturday morning.
The cautious US posture came with a simultaneous flashpoint. The US military shot down several Iranian attack drones in the Strait of Hormuz early Saturday, apparently targeting commercial ships, prompting President Donald Trump to post that the attack was “TOTALLY UNACCEPTABLE.”
Even so, Iranian Foreign Minister Abbas Araghchi indicated that the deal was imminent. “Once this memorandum of understanding is signed by both parties, it will be announced and that will be it,” Araghchi said on Iranian state media. He added that all details relating to Iran’s nuclear programme would be deferred to a subsequent round of negotiations.
The proposed agreement, referred to as the Islamabad Memorandum of Understanding, addresses several immediate flashpoints while leaving the most sensitive issues for later. According to Iranian Foreign Ministry statements, the memorandum as currently structured would reopen the Strait of Hormuz immediately without tolls and restore prewar shipping within approximately 30 days, while the US naval blockade on Iranian ports would be lifted and Iran’s frozen assets released after signing.
Araghchi confirmed that nuclear issues and the lifting of sanctions have been deferred to a second stage of negotiations, for which a 60-day period has been set aside. Discussions in that phase would cover sanctions relief, uranium enrichment, the future of Iran’s enriched material stockpiles, and a framework for an Iranian reconstruction fund.
That structure drew a sharp distinction between the US and Iranian accounts of what each side is getting. Trump insisted on Friday that terms circulating in Iranian state media “have NOTHING to do with the terms that were agreed to, in writing.” Iran’s official state news agency IRNA, meanwhile, reported that Iran has made no commitments regarding its nuclear programme or control of the Strait of Hormuz in the current draft.
A senior Trump administration official offered a different version. The official said the draft deal, which remains tentative and subject to change, includes Iran’s agreement to the removal and destruction of its nuclear material, and that no money would be released until Tehran honours its commitments under a “performance-based” structure. The official also said that Israel would not withdraw from security zones in Lebanon, Syria, or Gaza under the deal’s terms — a condition Iran has previously rejected.
Sharif, for his part, pushed back against what he characterised as deliberate interference. “Amid ongoing intense mediation efforts by Pakistan, we are fully aware of incessant misinformation campaign being waged by those who want to sabotage the peace deal,” the prime minister said. He did not name any specific actors behind the campaign.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf, who led the Iranian delegation at Islamabad talks in April, posted on X that commitments in any deal must be honoured without conditions. “Commitments made must be commitments kept. No ifs, no buts, no excuses,” Ghalibaf wrote.
Regional and Global Stakes
The deal’s implications extend well beyond the two warring parties. Iran closed the Strait of Hormuz after US and Israeli strikes began on February 28, 2026 — a move that disrupted one of the world’s most critical trade routes for goods including fuel and gas. Reopening the waterway would immediately ease pressure on global oil markets and supply chains.
Wall Street’s rebound continued into early Friday trading, and oil prices sank more than 3 percent after Trump claimed there had been a breakthrough. Futures for the S&P 500 were 0.6 percent higher before the opening bell, while futures for the Dow Jones Industrial Average added 0.7 percent. Nasdaq futures rose 0.5 percent.
Lebanon remains a contested element of any final agreement. Araghchi said the agreement includes a resolution for the conflict of Lebanon “and all other fronts.” However, Israeli Defence Minister Israel Katz stated this week that Israel would not withdraw from its security zones in Lebanon or Syria regardless of what Washington agrees to with Tehran, according to NBC News.
The war has also claimed a historic casualty. Iran’s Supreme Leader Ali Khamenei was killed in the opening strikes on February 28, and Iran has since appointed Khamenei’s son as his successor. Iran announced on Saturday that Khamenei’s funeral will take place on July 4.
Background
The United States and Israel launched strikes against Iran beginning February 28, 2026, stating their aim was to induce regime change and target Iran’s nuclear and ballistic missile programme. Iran responded with counter-strikes against Israel, US military bases in the region, and locations in Arab states. Trump set successive deadlines — March 21, then March 23, then April 7 — for a deal, threatening to strike Iranian energy infrastructure and bridges if no agreement was reached. Pakistan brokered a ceasefire in early April and hosted direct talks between US and Iranian delegations in Islamabad on April 11 and 12. Negotiating teams have included US Special Envoy Steve Witkoff, Special Envoy Jared Kushner, and CENTCOM commander Brad Cooper on the American side, and Iranian Foreign Minister Abbas Araghchi and Supreme National Security Council Secretary Ali Larijani on the Iranian side. Previous announcements of imminent breakthroughs did not result in a signed agreement.
What Happens Next
Both Trump and the mediators indicated the deal could be announced on Sunday, though it has not been finalised and could still fall apart. If signed, a 60-day period of formal negotiations would follow, covering sanctions relief, uranium enrichment levels, the fate of Iran’s enriched uranium stockpiles, and a reconstruction fund framework. The precise timing, location, and procedural details of the agreement will depend on how the diplomatic process develops in the coming hours, Araghchi said. Sharif indicated that technical-level talks between the two sides are scheduled to begin next week regardless.
