Hopes for a peace agreement between the United States and Iran grew on Friday after US President Donald Trump said a deal to end the three-month conflict could be signed as soon as this weekend, although Tehran said it had yet to make a final decision.
If confirmed, the agreement would mark the most significant diplomatic breakthrough since fighting began, a conflict that has killed thousands and driven up global energy prices after Iran effectively restricted shipping through the Strait of Hormuz.
“We just made a great settlement of the war with Iran,” Trump told reporters at the White House on Thursday.
“The strait will officially open as soon as we sign, which could be soon, very soon, maybe over the weekend in Europe,” he said, adding that Vice President JD Vance would attend the signing ceremony.
Asked whether Iran’s Supreme Leader Ayatollah Mojtaba Khamenei had approved the deal, Trump replied, “I understand the answer is yes.”
Trump has repeatedly said since March that an agreement to end the conflict was close. Despite those assurances, both sides have exchanged strikes this week, testing a ceasefire announced in April.
Iranian media quoted Foreign Ministry spokesperson Esmaeil Baghaei as saying substantial parts of the agreement had been completed, but Iran would not compromise on key positions.
“We have not reached a final conclusion on this matter,” he said. “This is a very important issue that is currently being reviewed by the relevant decision-making bodies.”
Financial markets reacted positively to the latest developments. Asian stocks rose alongside a broader global rally, while oil prices fell to their lowest levels in two months on expectations that a deal could soon be reached.
However, uncertainty around the Strait of Hormuz persisted. A US official said American forces shot down two Iranian one-way attack drones after Tehran attempted to target commercial vessels passing through the strategic waterway. Iranian state media also reported that the country’s military stopped a tanker from transiting the strait, while explosions were heard in the area early on Friday.
Trump’s latest comments came after he called off planned military strikes against Iran, citing progress in negotiations.
“It’s a very strong memorandum of understanding that is a little conceptual,” Trump told reporters.
Trump has repeatedly insisted that any agreement must prevent Iran from obtaining a nuclear weapon, a claim Tehran continues to reject.
Iran’s demands reportedly include the removal of international sanctions, access to billions of dollars in frozen assets and recognition of its control over the Strait of Hormuz.
“The big thing is there will be no nuclear weapons in Iran. That means not developed and not purchased,” Trump later said during a campaign event conducted by telephone.
Earlier on Thursday, Trump had warned that the United States would strike Iran “very hard tonight” and said he ultimately wanted control of Iran’s oil infrastructure hub at Kharg Island.
The conflict has created political challenges for the White House as rising fuel prices weigh on public opinion. Recent polls have shown declining approval ratings for Trump, while some Republicans fear voter dissatisfaction over the war could affect their party’s chances in November’s midterm elections.
At the same time, Trump faces pressure from Iran hawks within the Republican Party who insist that any agreement must permanently block Tehran’s path to developing a nuclear weapon.
Regional reaction is also expected to play a key role. Trump said on social media that countries including Israel, Saudi Arabia, Qatar and the United Arab Emirates had approved the agreement.
However, Israeli Prime Minister Benjamin Netanyahu’s office said Israel was not a party to the memorandum of understanding with Iran.
According to a statement issued after Netanyahu spoke with Trump, the Israeli leader welcomed efforts to secure an agreement that includes removing enriched nuclear material, dismantling enrichment infrastructure, limiting missile production and ending support for regional proxy groups.
Meanwhile, Tehran continues to demand an end to Israeli military operations in Lebanon, where fighting has continued alongside the broader confrontation involving Iran-backed Hezbollah militants.
Faridah Abdulkadiri
