Iran claims the agreement is not yet finalized as Trump seeks to sign soon

Jun 12 (Jowhar) - A potential diplomatic breakthrough between Washington and Tehran could come within days, as U.S. President Donald Trump stated that the two countries could sign a peace agreement by the end of the week that would reopen the Strait of Hormuz for shipping - although Iran has insisted that no final decision has been reached.

If confirmed, the agreement would be the most significant step yet towards ending a three-month-long conflict that has killed thousands and significantly raised global energy prices.

Iranian media quoted Foreign Ministry spokesman Esmaeil Baghaei as saying that many parts of the draft text have been completed, but Tehran will not back down from its red lines.

“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.”

Speaking at the White House, Mr. Trump told reporters: “We are now close to a great deal regarding the war with Iran.”

“The waterway will officially open as soon as we sign, which could be soon, perhaps by the end of the week in Europe,” he said, adding that Vice President JD Vance could sign on behalf of the United States.

When asked if Iran's Supreme Leader Ayatollah Mojtaba Khamenei had approved the agreement, Mr. Trump responded: “I understand the answer is yes.”

Watch: U.S. President Donald Trump announces a “great deal” with Iran

Mr. Trump's remarks followed his decision to halt planned military strikes against Iran, citing progress in negotiations.

Markets reacted quickly: U.S. stocks rose and oil prices fell following his comments.

Since mid-March, Mr. Trump has consistently suggested that the war should be brought to an end.

However, this week both sides exchanged attacks, testing a ceasefire declared in April.

“It’s a very strong understanding agreement with very little thought,” Mr. Trump said.

Mr. Trump has consistently insisted that any peace agreement must prevent Iran from developing nuclear weapons. Iran has stated that it is not seeking such weapons.

Iran has restricted traffic in the Strait of Hormuz

According to reports, Iran has requested the lifting of international sanctions, access to billions of dollars in frozen assets, and recognition of control over the Strait of Hormuz.