By Ghazali Ibrahim
Iran has reportedly agreed not to pursue nuclear weapons and to reopen the Strait of Hormuz under a proposed peace arrangement brokered with the United States, in exchange for the release of about $25 billion in frozen Iranian assets.
Details of the agreement, released by Tehran on Sunday, suggest cautious optimism that months of escalating tensions may be moving toward de-escalation.
The deal, according to reports cited by the New York Post, is intended to end more than three months of conflict that has disrupted global energy flows and heightened geopolitical tensions.
The Strait of Hormuz, a critical maritime corridor responsible for roughly 20 per cent of global oil shipments has seen significant reductions in traffic since the outbreak of hostilities, sparking concern across international markets.
On Saturday, US President Donald Trump and Pakistani Prime Minister Shehbaz Sharif indicated that a formal agreement could be signed later on June 14, with expectations that shipping routes through the strait would be reopened immediately afterward.
A spokesperson for Iran’s Foreign Ministry described the talks as “constructive,” adding that a breakthrough could be reached within days, though cautioning that several issues remain unresolved.
Under the proposed framework, the United States would unfreeze $25 billion in Iranian assets and lift restrictions affecting Iranian-linked vessels operating in the strategic waterway. The arrangement is also expected to include a 60-day window for further technical negotiations between Washington and Tehran.
Qatari mediators reportedly arrived in Tehran on Sunday morning to assist in finalising the agreement in coordination with US officials. A signing ceremony is being considered in Geneva, Switzerland, a location previously used for diplomatic discussions between both sides before the recent escalation.
US Vice President JD Vance is expected to lead the American delegation, while Iran may be represented by parliamentary speaker Mohammad Bagher Ghalibaf in his capacity as chief negotiator. However, Iranian officials have said there are currently no confirmed travel plans for their delegation.
President Trump is expected to remain in Washington for a scheduled UFC event at the White House, which coincides with his 80th birthday.
Despite the reported diplomatic progress, regional tensions persist. Israel recently carried out airstrikes on Hezbollah targets in Beirut, citing retaliatory action for attacks on northern Israel. Israeli Prime Minister Benjamin Netanyahu said the strikes were aimed at Hezbollah infrastructure in Lebanon’s capital.
Iran, a key supporter of Hezbollah, has previously responded to Israeli operations with missile strikes, and has maintained that any broader ceasefire arrangement with Washington should also address Israeli military activity in Lebanon.
