PM Shehbaz says final Iran-US peace deal text has been agreed

Prime Minister Shehbaz Sharif said Friday that a final text of the proposed peace agreement between the United States and Iran has been agreed upon, describing the development as the closest the sides have come to ending months of conflict.

In a statement posted on X, Shehbaz said Pakistan’s mediation efforts were continuing despite what he described as attempts to undermine the process through misinformation.

“Amid ongoing intense mediation efforts by Pakistan, we are fully aware of an incessant misinformation campaign being waged by those who want to sabotage the peace deal,” he wrote.

The development comes a day after US President Donald Trump said the United States and Iran could sign a peace deal as soon as this weekend that would reopen the Strait of Hormuz to shipping, but Iran countered that it had not reached a final decision on an agreement.

The deal, if confirmed, would be the most significant diplomatic breakthrough yet to end the three-month-old war, which has killed thousands and sent global energy prices sharply higher.

Iranian media reported Foreign Ministry spokesperson Esmaeil Baghaei as saying that large parts of the text under negotiation have been finalized but Iran would not compromise on its red lines.

Trump cancels strikes against Iran planned for Thursday evening

“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.”

Trump, meanwhile, told reporters at the White House: “We just made a great settlement of the war with Iran.”

“The strait will officially open as soon as we sign, which could be soon, very soon, maybe over the weekend in Europe,” Trump said, adding Vice President JD Vance could sign for the United States.

When asked if Iran’s Supreme Leader Ayatollah Mojtaba Khamenei approved the deal, Trump said: “I understand the answer is yes.”

Trump’s announcement came after he called off planned military strikes on Iran, citing progress in talks. U.S. stocks rose and oil prices fell on the news.

Since mid-March, Trump has repeatedly claimed that a deal with Iran to end the war was close. The two sides have traded strikes this week, straining a ceasefire announced in April.

“It’s a very strong memorandum of understanding that is a little conceptual,” Trump told reporters.