Pakistan’s prime minister has said the final text of a peace deal between the US and Iran had been reached, hours after US president Donald Trump warned Tehran to “get their act together”.
Shehbaz Sharif said Islamabad, which has led the mediation efforts with Qatar, was working with both sides to finalise “the next steps”.
“Amid ongoing intense mediation efforts by Pakistan, we are fully aware of incessant misinformation campaigns being waged by those who want to sabotage the peace deal,” the Pakistani premier said on X. “Setting aside the noise, we can confirm that a final, agreed upon text of the peace deal has been reached.”
He added: “Peace has never been this close as it is now.”
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A senior US official said the two sides expected to sign a deal in the coming days. The agreement would reopen the Strait of Hormuz, lift the US blockade on Iranian ports and lead to the dismantling of Iran’s nuclear programme with the US set to receive the enriched material, the official added. It would also trigger a 60-day “technical negotiation”.
“What we do also see is broad consensus in the [Islamic Revolutionary Guard Corps], among the hardliners, among the civilian leadership, that this is a good and acceptable deal,” the official said. “So we actually feel quite confident that there is consensus within the system.”
Esmaeil Baghaei, Iran’s foreign ministry spokesperson, on Friday said meetings of the relevant institutions “are under way”.
“To reach a definitive and final outcome, consensus must be achieved among the decision-making authorities and the institutions involved in this matter,” he said.
Oil prices, which had earlier tumbled more than 5 per cent to a three-month low, clawed back some of their losses by the early afternoon. Brent crude was trading about 3.4 per cent lower at $84.67 a barrel.
The progress came hours after the US president had accused Tehran on his Truth Social platform of misrepresenting the details of a pact to reopen the strait that he said had been approved on Thursday.
Trump lashed out at Tehran, saying the terms it “leaked out to the Fake News have NOTHING to do with the terms that were agreed to, in writing”.
Shortly after Trump’s post on Friday, Iran’s foreign minister Abbas Araghchi said “the memorandum of understanding has never been closer”. “Pending its finalisation, the media should refrain from entering speculation about its content,” he said on X.
“In line with our responsible and transparent approach, all details will be shared with the public in due course,” he added.
Trump later reposted Araghchi’s comments.
US vice-president JD Vance acknowledged the potential economic benefit for Iran if a deal was reached. However, he posted on X that “no funds are being released for simply signing a deal or attending a meeting”.
“The deal is structured to ensure that the US and its allies concerns are prioritised, and that if the Islamic Republic of Iran meets its obligations, then economic benefits will flow to them and to the entire region,” he said.
But the Iran state-affiliated Mehr news agency released a report detailing what it said were among the 14 points of the proposal, which included the US agreeing to release $24 billion of frozen Iran assets held overseas, half of which it said should be made available before negotiations begin.
People briefed on the talks have said any sanctions relief would be phased and dependent on the progress on nuclear talks that would begin once the memorandum of understanding had been signed.
Mehr, not considered to be among Iran’s most influential news outlets, also said the US and its allies would present reconstruction plans for Iran worth at least $300 billion. There is no mention of that figure in reconstruction funding in the memorandum of understanding, said a person familiar with the situation.
The proposal discussed by the parties would lead to an extension of the April 8th ceasefire by 60 days, during which the strait would gradually reopen. Iran would have to clear mines from the narrow waterway during the first 30 days.
The proposed deal would also lay out the framework for negotiations on Iran’s nuclear programme, including its stockpile of uranium enriched close to weapons-grade levels – Copyright The Financial Times Limited 2026
