Pakistan PM says Iran-US peace deal text finalized

Pakistan's Prime Minister Shehbaz Sharif announced that a final text for a peace deal between the United States and Iran has been agreed upon, with both nations reportedly working on the next steps. Switzerland has offered to host a potential signing ceremony for the memorandum of understanding (MOU).

However, significant discrepancies exist between the two sides regarding the deal's terms. Iran's Foreign Minister Abbas Araghchi stated the MoU was closer than ever, with Iranian media reporting it would include the release of $24 billion in frozen assets and cessation of hostilities. Conversely, US officials, including President Donald Trump and Vice President JD Vance, have strongly refuted these claims, emphasizing that no cash or frozen funds would be released without verification of Iran's nuclear program compliance and that Iran would not fund regional allies.

A senior Trump administration official detailed that Iran had agreed to destroy its nuclear material domestically and that frozen funds would only be released upon meeting deal conditions. The US also stated Iran would not fund groups like Hezbollah. Despite the conflicting narratives, Pakistan confirmed an agreed-upon text and is assisting with next steps, while Switzerland has proposed hosting the signing.