On Friday, June 12, 2026, Pakistan's Prime Minister Shehbaz Sharif posted that the US and Iran may bne nearing "a final, agreed upon text" for a peace deal, and that his country is "working closely with both sides to finalize the next steps."
He also took a swipe at people muddying the waters, writing that setting aside the noise, a final agreed text of the peace deal has been reached, accusing some parties of spreading misinformation to sabotage it. (Washington Times, Reuters)
The same day, the picture got messier:
- Iran's Foreign Minister Abbas Araghchi said a deal "has never been closer" and that the details of a memorandum of understanding with the US would be shared publicly "in due course." He called it the "Islamabad Memorandum of Understanding" and told media to stop speculating until it is finalised
- President Donald Trump pushed back hard, saying Iranian state media's version of the deal had "NOTHING to do with the terms that were agreed to, in writing" with Iran.
- US Central Command reported that it intercepted multiple one-way attack drones launched by Iran in an attempt to strike commercial ships transiting the Strait of Hormuz.
What the US Says is in the Deal?
A senior US administration official laid out the terms of a short-term agreement on a call with reporters. According to ABC News, the official said the deal:
- Reopens the Strait of Hormuz and lifts the US blockade on it
- "Leads to the dismantling of the Iranian nuclear program"
- Has the US take possession of Iran's enriched nuclear material, which is then destroyed and removed from the country.
- Sets up an inspection regime to make it a long-term, enforceable commitment
- Includes a 60-day period for technical negotiations on the remaining points
On the money side, the official was blunt that Iran gets nothing upfront. There is no sanctions relief or financial relief on signing. Instead, if Iran complies, it gets "rewarded economically" and reintegrated into the world economy. The official put the chance of signing in the near term at 80% to 85%, and said they believed Iran's supreme leader had signed off on the deal, but were not certain.
Also Read: Trump Calls Off Iran Strikes, Claims Peace Deal Near as Tehran Denies Final Agreement
The War is Not Over Yet?
This is where the brief's instinct is right. Even if a text exists, several things the deal does not fix are still very live.
- Iran is not on the same page. Araghchi told state television that Iran has not accepted the dismantling of its nuclear program, and wants to retain its uranium in diluted form. That is the opposite of what the US says the deal does. CBC's reporting flatly noted that the terms, as leaked, appear to favour Tehran.
- The blockade is still on. Trump earlier announced an open-ended extension of the ceasefire and the continuation of a US blockade until negotiations are concluded "one way or the other." The blockade took effect in April after the first round of Pakistan talks failed. CENTCOM said it would be enforced against vessels of all nations entering or departing Iranian ports, including all Iranian ports on the Arabian Gulf and Gulf of Oman. Until the deal is signed and that order lifts, Iran's ports stay choked.
- Both sides are still shooting. The drone intercepts over Hormuz happened on the same day as the "final text" announcement. Earlier in the war, the IRGC closed the Strait of Hormuz and fired on passing ships amid the US blockade (Polymarket market summary citing the incident).
- Israel is a wild card. The US official said the broader regional peace deal is meant to cover Lebanon, Iran, the Gulf states and Israel, and expressed confidence that Israel and the Gulf coalition will get on board. But Israel said on Thursday it was not party to the MOU, and Israeli minister Israel Katz said Israel will not withdraw from Gaza, Lebanon, Syria or the West Bank.
Also Read: Israel Orders Strikes on Beirut Suburbs as Hezbollah Conflict Escalates
What to watch next in US-Iran War?
- A signing, not a statement. A real deal means a signed document, not a post on social media. Watch for the Europe signing ceremony the US floated.
- The blockade order. The clearest test of "real peace" is whether CENTCOM actually lifts the blockade on Iranian ports.
- The nuclear gap. The US says the deal dismantles Iran's program. Iran says it has not agreed to that. That contradiction has to be resolved in the 60-day technical talks, or the whole thing can unravel.
- Hormuz incidents. More drone or ship attacks would tell you the ceasefire is fraying regardless of paperwork.
- Crude and the rupee. Brent back toward $100 and USD/INR toward 95 would be the early warning for Indian consumers.
Sources: Pakistan PM Shehbaz Sharif statement (via Washington Times, Reuters); CBS News, ABC News, CNN and CBC live coverage.