US and Iran may 'agree to draft peace deal within hours'

A draft peace deal between the U.S. and Iran is expected within 24 hours, latest reports suggest. The draft peace deal could soon be announced as senior officials from both countries have reportedly approved the peace proposal, which is now only awaiting final approval from national leaders, according to the Washington Times.

Top negotiators, including Iranian Parliament Speaker Mohammad Bagher Qalifbaf, Vice President J.D. Vance, special envoy Steve Witkoff and President Trump’s son-in-law Jared Kushner, have approved the draft, the newspaper also said. The agreement would turn the existing six-week ceasefire into a permanent peace deal.

Insider Wire said Mr Vance, War Secretary Hegseth, and General Caine rushed to the White House in an abrupt motorcade.

Details of the potential ceasefire agreement are not yet clear, but it is understood they would include the future of Iran’s nuclear program and the situation of the Strait of Hormuz.

It was also understood earlier today that the United States and Iran were close to agreeing on a memorandum of understanding aimed at ending the war, two regional officials and a diplomat said on Saturday, as the United States weighed a new round of attacks on the Islamic Republic.

Mr Trump also emphasised however that the two sides were getting closer to an agreement, stating “every day it gets better and better.” When asked about what a deal that satisfies both sides might look like, he added: “I can’t tell you before I tell them, right?”

Meanwhile, Iran signalled “narrowing differences” in negotiations with the US after Pakistan’s army chief held more talks in Tehran, and US Secretary of State Marco Rubio told journalists in India that “there’s been some progress made” and “there may be news later today”.

Foreign Ministry spokesperson Esmail Baghaei described the draft as a “framework agreement” and added: “We want this to include the main issues required for ending the imposed war and other issues of essential importance to us.

“Then, over a reasonable time span, between 30 and 60 days, details are discussed and ultimately a final agreement is reached.”

He said the Strait of Hormuz is among the topics discussed. Positions have moved closer in recent days, Iran’s official IRNA news agency quoted Mr Baghaei as saying: “Over the past week, the trend has been toward narrowing differences. We will have to wait and see what happens over the next three or four days.”