Iran and U.S. officials report progress toward Middle East peace deal

Iranian and U.S. officials said Friday that a deal to end the Middle East war is closer than at any point in recent weeks. Pakistan, which has mediated talks, also expressed optimism that an agreement could be reached soon. Negotiations have continued for weeks despite an April truce. Officials described the current text as the closest the sides have come to a final agreement.

Details of the proposed agreement Iran's foreign minister wrote that the Islamabad Memorandum of Understanding has never been closer. The minister said the draft calls for lifting the U.S. naval blockade of Iran's ports and unspecified changes to the administration of the Strait of Hormuz.

The minister added that Iran's enriched uranium would be diluted inside the country. Iranian state media reported that the draft would also release $24 billion in frozen Iranian assets. A senior U.S. official told reporters the parties are now at an 80-85 percent likelihood of signing within days.

The official said Iran had agreed to dismantle its nuclear program, destroy its enriched uranium stockpile, and reopen the strait.

Remaining points of disagreement Iranian state media accounts of the draft differ from the U.S. description on several points. Iranian reports state that further talks would continue for 60 days after an initial signing and that Iran's right to enrich uranium would be preserved.

A senior U.S. official said no frozen funds would be released until Iran meets its commitments. U.S. Vice President JD Vance stated that Iran is not receiving any cash simply for signing a deal. The Swiss foreign ministry said it has offered to host a signing if both sides agree.

Iran's foreign minister indicated the draft would instead be signed remotely in the coming days.