Mediator Pakistan says Iran-US peace deal text 'agreed'

• Pakistan working closely with both sides to finalise next steps: PM. 
• Trump calls reports of terms that favour Iran "fake news".
• Western source says deal could be signed as soon as Sunday.
  

Prime Minister Shehbaz Sharif said on Friday that the final text of a US-Iran peace deal had been agreed.

"We can confirm that a final, agreed-upon text of the peace deal has been reached and Pakistan is now working closely with both sides to finalise the next steps," PM Shehbaz wrote on his official X handle.

He tagged both the US and Iranian presidents and other leaders from both countries. Pakistan has been mediating between the two sides for months.

"Peace has never been as close as it is now," the premier said. "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 added.

The prime minister's statement comes hours after Iranian Foreign Minister Abbas Araghchi insisted that a deal with the United States to end the war in the Middle East had never been closer but urged media outlets to refrain from speculating about its contents until it was finalised.

Araqchi said Iran would share all details with the public in due course, in what he called Tehran's responsible and transparent approach.

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 called the reports 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 of what he has sought, beyond the reopening of the Strait of Hormuz, which Iran shut after the US and Israel launched attacks in February.

Trump said leaked comments on a deal did not represent what had been agreed to. "The terms that Iran leaked out to the Fake News have NOTHING to do with the terms that were agreed to, in writing," Trump wrote on his Truth Social platform.

However, shortly afterwards, Trump reposted a social media post by Iranian Foreign Minister Abbas Araqchi, in which Araqchi said a memorandum to end the war had never been closer - and also warned against speculation over its contents until it was finalised.

What’s in the deal?

A Western source, an Iranian source and a Gulf source said a key issue yet to be resolved was language on ceasing hostilities in Lebanon. Iran has demanded that Israel end a campaign against Iran's allies, Hezbollah.

Under the terms of the text described by other sources to Reuters, the US would immediately begin providing Iran with billions of dollars in unfrozen assets and waive sanctions on its oil exports, in return for Iran opening the strait.

Discussion of Iran's nuclear programme would be set aside for a 60-day period of talks on a final settlement, there would be a discussion of war reparations to Tehran, and the dropping of longstanding demands for curbs on Iran's missile programme, the sources said.

Washington has previously demanded Iran give up its stockpile of highly enriched uranium. But none of the versions of the text reviewed by Reuters includes mention of it, and the sources said the demand had been explicitly excluded for now.

But a senior US official, describing the agreement, said that the uranium stockpile "will be destroyed and removed" and Iran's nuclear programme would be dismantled.

"None of their money is released until they perform. Strait of Hormuz will be open. No Iran funding of terrorist groups," the official said. "This is what they have agreed to. This is a performance-based deal."

Vice President JD Vance said on X: "First, the Iranians are not receiving any cash, and no funds are being released for simply signing a deal or attending a meeting."

The deal ensures economic benefits would only flow to Iran if it meets its obligations under the agreement, he said.

Israel not part to memorandum

A Western source said that if language can be agreed, the memorandum could be signed as soon as Sunday by Vance and Iran's parliament speaker, Mohammad Baqer Qalibaf, with Geneva for now seen as the likeliest venue.

Despite jointly launching the war with the United States, Israel has so far been excluded from the negotiations, and Prime Minister Benjamin Netanyahu said his country would not be party to the memorandum.

Netanyahu has repeatedly clashed with Trump in recent weeks over US demands that Israel curb military action in Lebanon to let Washington reach a deal with Tehran.

Israel's defence minister said Israel would not withdraw from territory in Lebanon. A senior Israeli official said Israel expects any deal to maintain the Lebanon ceasefire in its current form, with Israel maintaining freedom to act against what it deems threats in areas under its control.