Iran is reviewing a fresh US peace proposal aimed at ending the conflict that began on February 28, even as major disagreements remain over Tehran’s nuclear programme and control of the Strait of Hormuz.
US President Donald Trump struck an optimistic tone on Wednesday, saying negotiations had made progress over the past 24 hours. “They want to make a deal. We’ve had very good talks over the last 24 hours, and it’s very possible that we’ll make a deal,” Trump told reporters at the White House.
However, Trump had earlier warned that the US could resume bombing operations if talks collapsed, calling Iran’s acceptance of the proposal a “big assumption”.
According to reports, the proposed one-page memorandum would formally end the war and trigger a 30-day phase of detailed negotiations between Washington and Tehran. The talks would focus on reopening shipping routes through the Strait of Hormuz, easing US sanctions on Iran, and placing restrictions on Tehran’s nuclear activities.
However, it remains unclear how the emerging framework differs from the 14-point proposal submitted by Iran last week. Tehran has also not yet officially responded to the latest US proposal.
Despite ongoing diplomatic efforts, Washington and Tehran remain divided over several core issues, including Iran’s nuclear programme and the future of the Strait of Hormuz — a strategic waterway that previously carried nearly a fifth of global oil and gas supplies.
Iranian officials responded cautiously to reports of a possible breakthrough. Iranian lawmaker Ebrahim Rezaei described the proposal as “more of an American wish-list than reality”, while Parliament Speaker Mohammad Baqer Qalibaf mocked reports suggesting the two sides were close to an agreement.
Negotiations are reportedly being led on the US side by Trump envoy Steve Witkoff and Trump’s son-in-law Jared Kushner. If both sides agree to the preliminary framework, broader formal negotiations would begin immediately.
The possibility of a deal sent global oil prices sharply lower, with Brent crude briefly falling to two-week lows before recovering. Global markets also rallied amid hopes that the conflict, which disrupted energy supplies and shipping routes, could soon ease.
Israeli Prime Minister Benjamin Netanyahu said he and Trump agreed that all enriched uranium must be removed from Iran to prevent Tehran from developing a nuclear weapon. Iran, however, continues to deny seeking nuclear arms.
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