By Amjad Qaimkhani
WASHINGTON: US President Donald Trump said a peace deal with Iran could be signed as early as this weekend, raising hopes of a breakthrough even as tensions remained high over the Strait of Hormuz.
Speaking at the White House, Trump said a settlement had been reached in principle and suggested the waterway could reopen once the agreement was signed. He said the signing could take place in Europe and indicated US Vice President JD Vance might attend. Trump claimed Iran’s supreme leadership had approved the arrangement, although Tehran has not confirmed this.
Iranian Foreign Ministry spokesperson Esmaeil Baghaei said large parts of the deal had been agreed but no final decision had been made. He said Iran would not compromise on what it described as its core red lines. Iranian officials said discussions were still under review by decision-making bodies. Foreign Minister Abbas Araghchi has been linked to the ongoing negotiations, according to reports.
The proposed agreement, as described in media reports, would extend the ceasefire for 60 days and open wider talks on Iran’s nuclear programme. It would also involve reopening the Strait of Hormuz and gradual sanctions relief for Tehran in return for limits on its nuclear activities. Markets reacted positively to the possibility of a deal, with Asian stocks rising and oil prices falling to two-month lows.
However, tensions persisted in the region. Reports said drones were shot down near the Strait of Hormuz and Iran briefly stopped a tanker from passing through the waterway. Earlier strikes in the Gulf region also raised fears of wider escalation.
Reports also suggested Israel had carried out strikes in southern Lebanon, adding to already high regional instability. The government of Benjamin Netanyahu said Israel was not a party to any proposed agreement but supported efforts to prevent Iran from advancing its nuclear capabilities. Trump has repeatedly said any final deal must ensure Iran does not obtain nuclear weapons. Iranian officials continue to insist their programme is peaceful. Despite optimism in financial markets, both sides have yet to confirm a final agreement, and key political and security issues remain unresolved.
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