U.S. President Donald Trump announced on Thursday that the United States and Iran could finalize a peace accord as early as this weekend, a diplomatic move intended to reopen the blockaded Strait of Hormuz to international maritime trade.
If successfully signed, the pact would mark a critical breakthrough in a three-month-old military conflict that has claimed thousands of lives and caused severe volatility in global energy markets.
While President Trump projected optimism during a White House press briefing, noting that Vice President JD Vance could travel to Europe to sign the documents, Iranian officials maintained a more reserved stance.
Iranian Foreign Ministry spokesperson Esmaeil Baghaei clarified that while substantial portions of the diplomatic text have been settled, Tehran has not yet formally accepted the agreement.
“Iran has not yet reached a final conclusion on an agreement,” Baghaei stated.
Despite Iran’s public hesitation, President Trump asserted that Supreme Leader Ayatollah Mojtaba Khamenei has already given his assent to the prospective framework.
The President characterized the pending document as a conceptual but robust diplomatic framework designed to permanently block Tehran from obtaining nuclear weapons—a strategic ambition that Iran has consistently denied pursuing.
The potential for a diplomatic resolution emerged after President Trump paused planned military strikes against Iranian targets, pointing to a breakthrough in high-level communications. The announcement triggered immediate positive movement in U.S. financial markets, causing domestic stock indexes to rise and global oil prices to fall.
Nevertheless, the negotiations remain highly complex. Iran continues to demand the lifting of sweeping international economic sanctions, the release of billions of dollars in frozen foreign assets, and formal recognition of its maritime jurisdiction over the Strait of Hormuz.
As both sides work through the final details of the text, the international community remains focused on whether a formal ceasefire will be secured over the weekend.