US President Donald Trump said a deal to end the war with Iran could be signed this weekend. However, the Iranian side announced that no final decision has been made yet regarding the agreement.
If confirmed, the deal would mark the biggest diplomatic progress in the three-month conflict that has claimed thousands of lives so far. The conflict sharply increased global energy prices after Iran largely closed off passage through the Strait of Hormuz.
Trump: Strait will open once deal is signed
Speaking to reporters at the White House, Trump said a "major agreement" had been reached in the war with Iran. The US President stated that the strait would officially reopen as soon as the deal is signed, which could happen within the weekend.
Trump also said that US Vice President JD Vance would attend the signing ceremony. When asked if Iran’s Supreme Leader Ayatollah Mojtaba Khamenei had approved the deal, he said he understood the answer was yes.
Tehran has not made a final decision
In a statement reported by Iranian media, Foreign Ministry spokesperson Esmail Bekaie said most of the deal had been completed but Tehran would not compromise on its red lines. Bekaie said, "We have not reached a final conclusion on this," adding that the decision was being evaluated by relevant institutions.
Mutual attacks between the parties this week have also strained the ceasefire declared in April. Meanwhile, Asian stock markets joined the global rally on hopes of a peace deal; oil prices fell to their lowest level in two months.
Tensions persist around Hormuz
Despite this, tensions remained high around the Strait of Hormuz. A US official said US forces shot down two Iranian-made one-way attack drones after Iran attempted to attack commercial vessels.
Iranian state media also reported that the country’s navy stopped a tanker trying to pass through the strait and that explosions were heard early Friday morning.
Trump said he canceled planned military strikes citing progress in the deal talks. However, on the same day, he threatened "very severe" attacks on Iran and later expressed intentions to target Harg Island, a central hub of the country’s oil infrastructure.
Political pressure mounts in Washington
The crisis has also become a political headache for the White House. Polls show Trump’s approval ratings have dropped due to voter backlash over rising gasoline prices.
Some Republicans are reportedly concerned that the war’s unpopularity could jeopardize the party’s control of Congress in the November midterm elections. On the other hand, Trump’s political calculations include appeasing hawks within his party who want a deal that prevents Iran from developing nuclear weapons.
Positions of Israel and Gulf capitals under watch
Trump said on social media that the deal was approved by countries including Israel, Saudi Arabia, Qatar, and the United Arab Emirates. However, the office of Israeli Prime Minister Benjamin Netanyahu stated after the talks that Israel was not a party to the agreement prepared with Iran.
Netanyahu reportedly thanked Trump for efforts toward a deal that includes removing enriched material, dismantling enrichment infrastructure, limiting missile production, and ending support for regional proxy groups.
Tehran is also demanding an end to the clashes between Israel and the Iran-backed Hezbollah in Lebanon. The course of the regional conflict, the situation in the Strait of Hormuz in the coming days, and the final decisions of the parties will become clearer soon.
