US and Iran signal a peace deal is close

Reports suggest Tehran secured most objectives, while US gains were mostly confined to reopening Hormuz

Vessels are anchored in the Strait of Hormuz, as seen from Musandam, Oman, Jun 11, 2026. REUTERS/Stringer

The United States and Iran signalled on Friday that an agreement to end their war was close, with a senior US administration official saying a text was in place that both sides like.

Iran's decision-making bodies were meeting to discuss the memorandum, Iran's foreign ministry spokesperson said.

Pakistan, which has for weeks sought to broker a deal, said a final text of a peace agreement between the United States and Iran had been reached.

"Pakistan is now working closely with both sides to finalise the next steps," Prime Minister Shehbaz Sharif said in a post on X.

Leaked terms of the proposed memorandum of understanding outlined by Western, Pakistani and Iranian sources on Friday appeared to favour Iran, drawing criticism from US President Donald Trump, who dismissed the reports as inaccurate.

While there were minor differences in the accounts, all appeared to offer Tehran much of what it has demanded so far, with Trump appearing to win little beyond the reopening of the Strait of Hormuz, which Iran shut after the US and Israel launched attacks in February.

However, a senior US administration official said the deal was specific about opening the strait and the removal of enriched nuclear material. The official said Iran will get significant sanctions relief based on how they perform under any deal.