ISLAMABAD: US President Donald Trump said on Thursday a peace deal with Iran was in its “final shape” and could be signed soon, crediting Pakistan and several Gulf states for helping facilitate negotiations aimed at ending months of conflict and reopening the Strait of Hormuz.
Trump’s announcement fueled a stock market rally and tanked oil prices, although Iran’s position remained unclear, with foreign ministry spokesman Esmaeil Baqaei saying Tehran “had not reached a final conclusion on the agreement.”
The announcement came after a sharp escalation in hostilities between the United States and Iran that threatened to derail diplomatic efforts aimed at ending the conflict that began with US-Israeli strikes on Iran in late February.
Speaking to reporters at the White House, Trump said they had made a “great settlement” of the war with Iran that would be subject to finalization of documents over the “next few days.”
“It should get done over the next few days. Probably have a signing maybe in Europe. And most importantly, we have a deal that Iran will never have a nuclear weapon,” he said.
“So, it was a very big thing. But we have a signing soon, and the documents are in pretty final shape.”
The US-Iran conflict erupted in February after joint US-Israeli strikes on Iran triggered months of confrontation across the Middle East, disrupting shipping through the Strait of Hormuz, a strategic waterway carrying roughly one-fifth of global oil and gas supplies.
“The Strait will officially open as soon as we sign, which could be soon, very soon,” Trump said. “Maybe over the weekend, in Europe. I won’t be able to be there, but J.D. [Vance] will be there.”
Iran’s semi-official Tasnim news agency noted that Trump had announced a deal was imminent 38 times in the previous two months.
“Until Iran announces the matter of a potential understanding, any news from Trump on this subject should be regarded the same as his previous messaging,” it noted.
“As soon as we reach a final conclusion, we will definitely announce it officially,” the state-run IRNA news agency reported, citing an Iranian foreign ministry spokesman.
Although fighting formally paused under an April 8 ceasefire, negotiations have remained fragile amid disputes over Iran’s nuclear program, sanctions and maritime access.
Trump’s statement suggested back-channel mediation led by US allies like Pakistan and Qatar may have borne fruit, despite previously saying he would hit Iran “VERY HARD TONIGHT.”
“I spoke to the head of — great heads of nations — Qatar, UAE, Saudi Arabia, Bahrain, Kuwait, and others,” he said.
“Pakistan was fantastic. The Prime Minister and the — I call him the General. He’s a General. He’s a great General. He’s so great that he’s actually a field marshal [Asim Munir], a step above. And they’re all very happy.”
A day earlier, Trump had declared that not only would US forces step up airstrikes, they would also seize control of Iran’s oil export facility on Kharg Island in the Gulf. Iran also warned the US that further military action could create an “endless quagmire” and trigger wider instability across the region.
Even as Trump’s intervention raised hopes of a resolution, Kuwait reported Iran targeted its territory and damaged an airport radar forcing an airspace closure.
