Prime Minister Shehbaz Sharif announced on Friday that the final text of a peace agreement between the United States and Iran has been agreed upon. He confirmed that Pakistan, acting as a mediator, is now collaborating closely with both parties to finalize the subsequent steps. The prime minister emphasized that peace is closer than ever before amid ongoing intensive mediation efforts by Pakistan.
Sharif also highlighted the presence of a persistent misinformation campaign aimed at undermining the peace process. His statement came shortly after Iranian Foreign Minister Abbas Araghchi expressed that a deal to end the Middle East conflict had never been nearer, while urging media outlets to avoid speculation about the agreement’s details until it is officially finalized. Araghchi assured that Iran would disclose all information transparently at the appropriate time.
Leaked details of the proposed memorandum of understanding, shared by Western, Pakistani, and Iranian sources, appeared to largely favor Iran, prompting criticism from former US President Donald Trump. Trump dismissed the leaked reports as inaccurate and stated that the terms leaked bore no resemblance to the agreed-upon conditions. However, he later shared a post by Araghchi reiterating that the memorandum was close to completion and cautioning against premature speculation.
Sources from the West, Iran, and the Gulf indicated that a critical unresolved issue concerns the language related to halting hostilities in Lebanon. Iran insists that Israel cease its campaign against Hezbollah, an Iranian ally. the terms described, the US would immediately release billions of dollars in frozen Iranian assets and lift sanctions on Iranian oil exports in exchange for Iran reopening the Strait of Hormuz, which it had closed following US and Israeli attacks in February.
The agreement reportedly sets aside discussions on Iran’s nuclear program for a 60-day negotiation period aimed at reaching a final settlement. It also includes talks on war reparations to Tehran and drops longstanding US demands to limit Iran’s missile program. Notably, the demand for Iran to relinquish its stockpile of highly enriched uranium is absent from the leaked texts, having been explicitly excluded for the time being.
A senior US official described the deal as performance-based, stating that Iran’s uranium stockpile would be destroyed and removed, and its nuclear program dismantled. The official emphasized that no funds would be released until Iran fulfills its obligations, and the Strait of Hormuz would remain open without Iran funding terrorist groups.
US Vice President JD Vance clarified that Iran would not receive any cash or funds merely for signing the deal or attending meetings. Economic benefits would only be granted if Iran complies with the agreement’s terms.
One Western source suggested that if the remaining language issues are resolved, the memorandum could be signed as early as Sunday by Vice President Vance and Iran’s parliament speaker, Mohammad Baqer Qalibaf, with Geneva considered the most probable location for the signing.
Despite having jointly initiated the conflict with the US, Israel has been excluded from the negotiations. Israeli Prime Minister Benjamin Netanyahu stated that Israel would not be a party to the memorandum. Netanyahu has clashed with Trump over US demands for Israel to reduce military actions in Lebanon to facilitate the deal with Tehran. Israel’s defense minister affirmed that Israel would not withdraw from Lebanese territory, while a senior Israeli official indicated that Israel expects the deal to maintain the current Lebanon ceasefire, preserving Israel’s freedom to act against perceived threats in its controlled areas.
