A peace deal between the United States and Iran is expected to be finalised within 24 hours, Pakistani Prime Minister Shehbaz Sharif said on Saturday.
“We are closer to a peace deal than ever before,” Sharif said on social media.
Pakistan, which is among the countries mediating an end to the war in West Asia, was preparing for the “electronic signing of the peace deal immediately after” it is finalised, Sharif said. Signing of the deal will be followed by technical level talks next week, he added.
He added: “We are confident that this historic peace deal will form a strong foundation for lasting peace.”
However, Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said that the exact timing of the signing of the deal will not be on Sunday, Reuters quoted Iranian state media as having reported.
On Friday, Iranian Foreign Minister Abbas Araghchi said on social media that the Islamabad Memorandum of Understanding had “never been closer” to being finalised and that media organisations should refrain from speculating about its contents.
US President Donald Trump had shared Araghchi’s post on social media.
Hours earlier, Trump had accused Tehran of leaking inaccurate details about the proposed agreement.
“The terms that Iran leaked out to the Fake News have nothing to do with the terms that were agreed to, in writing,” Trump said on social media. “What they said, including their weak and pathetic statement on having a deal, bears no relation to the truth.”
The US and Israel launched an attack on Iran on February 28, claiming that Tehran’s action posed an existential threat to Israel. Washington acts as a guarantor of Israel’s security. Iran retaliated by striking Israel and US military bases in the region, targeting major cities in Gulf countries and ships.
Tehran also effectively blocked the Strait of Hormuz, the narrow waterbody connecting the Gulf to the Arabian Sea, for most international commercial vessels, triggering a global energy crisis. About 20% of global petroleum supply passes through the maritime chokepoint.
The benchmark Brent crude was trading at $87 per barrel on Friday. The price of Brent was $78 per barrel on February 27, a day before the conflict started. The price had reached as high as $114 per barrel on May 4.
On May 21, International Energy Agency chief Fatih Birol said that a continued blockade of the strait and depleting fuel storage could push the global oil market into the “red zone” in July or August.
The peace talks between Iran and the US that were held in Islamabad, Pakistan collapsed on April 12 but the ceasefire in the region had largely held for nearly two months. This week, Israel-US and Iran exchanged several rounds of fire.
Israel has been claiming that Iran is close to obtaining a nuclear weapon, which could alter the regional security balance. Tehran has long maintained that its nuclear programme is for civilian purposes.
Edited by Nachiket Deuskar.
You’ve read Scroll.
Now help sustain it
Scroll is funded by readers, not corporate owners. If you believe our work matters, support our newsroom. Become a member today!
We’re not driven by clicks or corporate interests – just honest, independent reporting. Keep us going. Support Scroll today!