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Iran said on Saturday it could sign the framework for a peace deal with the United States in the coming days, but dismissed a suggestion by mediator Pakistan that it would be signed within the next 24 hours.
The U.S. and Iran signalled on Friday that an agreement to end three months of war was close, with a U.S. administration official saying both sides had agreed on a text and that Washington expected to sign an initial deal in the coming days.
Pakistani Prime Minister Shehbaz Sharif, whose country has been mediating in the war, said on Saturday that Pakistan was preparing for an electronic signing that would be followed by technical-level talks next week.
“We are closer to a peace deal than ever before. With finalization likely expected in the next 24 hours, Pakistan is preparing for the electronic signing of the peace deal immediately after, followed by technical level talks next week,” Sharif wrote on social media platform X.
“We are confident that this historic peace deal will form a strong foundation for lasting peace.”
U.S. President Donald Trump did not immediately comment but reposted Sharif’s post.
U.S. President Donald Trump and officials in Tehran suggest a peace deal is close, but nothing is signed. After several other promising announcements went nowhere, Iranians remain doubtful. CBC News is reporting from inside Iran.
Iranian Foreign Affairs Ministry spokesperson Esmaeil Baghaei said on Saturday that the possibility of signing the Islamabad memorandum in the coming days could not be ruled out.
Baghaei added that caution was needed regarding any comment on the signing date due to the hesitation of the other side. The exact timing of the signing of the Islamabad memorandum will not be on Sunday, he said, according to state media.
The war began with joint U.S.-Israeli strikes on Iran on Feb. 28. Iran then fired on U.S. military targets in the Gulf, and Hezbollah militants in Lebanon fired at Israel, triggering a renewal of conflict between Israel and the Iran-aligned group.
The war has killed thousands of people, mostly in Iran and Lebanon, and sent global energy prices sharply higher.
Iran’s supreme leader, Ayatollah Ali Khamenei, was killed in an airstrike on the first day of the war and later replaced as supreme leader by his son Mojtaba. Khamenei’s funeral will begin in Tehran on July 4 and conclude with his burial in his hometown, the northeastern holy city of Mashhad, on July 9, state media reported on Saturday.
What’s in the deal?
Iranian Foreign Affairs Minister Abbas Araghchi said on Friday that while changes in the deal were still possible, the tentative agreement showed his country had emerged stronger from the conflict.
“Iran is the winner of the war with the U.S.,” he said on state television on Friday.
Hours after those remarks, U.S. forces shot down multiple Iranian one-way attack drones heading toward the Strait of Hormuz, a source familiar with the matter told Reuters. The source, who spoke on condition of anonymity, said the drones had posed a threat to commercial traffic.
Pro-government demonstrations have been taking place across Iran over the last several weeks. They’re supported by the supreme leader, Mojtaba Khamenei, who has issued a statement urging people to come out and maintain their place in public spaces. These demonstrations can be seen as organized efforts to counter the impact of the anti-government protests that took place in January, which were violently put down by security forces.
U.S. Central Command later confirmed the action and said the waterway was open.
The proposed memorandum of understanding calls for reopening the strait and lifting the U.S. naval blockade on Iranian ports, sources on all sides of the talks said. Negotiations over Iran’s nuclear program — Trump’s stated rationale for starting the war — would take place afterwards.
A U.S. official, speaking on condition of anonymity, told reporters on Friday that the deal met Trump’s core objectives and put negotiations “in a very, very good place.”
Draft terms described to Reuters by multiple sources indicate the U.S. would begin releasing billions of dollars in frozen Iranian assets and waive sanctions on its oil exports, in return for Iran opening the strait.
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Iran’s nuclear program would be addressed during a 60-day period of talks. The U.S. official said the agreement would ultimately lead to the dismantling of Iran’s nuclear program, with its stockpile of highly enriched uranium to be destroyed and removed.
But Araghchi said that Iran, which sources said has not accepted the dismantling of its nuclear program, wanted to retain the uranium in diluted form.
The proposals also include discussion of possible war reparations for Tehran and dropping long-standing U.S. demands for limits on Iran’s missile program, the sources said. The U.S. official disputed that account.
Israel not party to memorandum
Israeli Prime Minister Benjamin Netanyahu said his country would not be party to the agreement. He has clashed with Trump over U.S. demands that Israel curb military action in Lebanon to allow Washington to reach a deal with Tehran.
Araqchi said the agreement would end the war in Lebanon, implying an Israeli withdrawal from occupied areas.
Israel’s defence minister said it would not withdraw. A senior Israeli official said Israel expects to retain its freedom to act against threats.