A peace agreement between the United States and Iran appears close to being finalized, with President Donald Trump indicating that the deal could be signed imminently. Trump announced on social media that the pact, expected to be formalized as early as today, would ensure the Strait of Hormuz remains open for international oil shipments, a critical global energy route.

Iran’s foreign ministry has acknowledged the possibility of signing a historic accord within the coming days, while Pakistani Prime Minister Shehbaz Sharif, who has played a mediating role, said there is now a framework in place to end the conflict that has persisted for several months. “We are closer to a peace deal than ever before,” Sharif stated.

According to a U.S. official, Vice President JD Vance is anticipated to travel to Geneva, Switzerland, to sign a memorandum of understanding with Iranian representatives. Analysts suggest the Trump administration is keen to secure the agreement ahead of the upcoming G7 summit, scheduled to begin tomorrow, where further discussions concerning Iran’s nuclear program are expected.

The British government has expressed support for the potential deal. A spokesperson from Downing Street confirmed that Labour leader Sir Keir Starmer has spoken with President Trump and reaffirmed the UK’s commitment to assist in implementing the peace agreement and to collaborate with international partners to ensure its success. Officials noted both leaders agreed on the importance of restoring freedom of navigation to mitigate ongoing economic disruptions, and they plan to maintain close communication, including discussions at the forthcoming summit.

The progress comes after several rounds of intermittent talks marred by accusations from Trump that Iranian officials were “dishonourable.” The conflict, which began on February 28, formally entered a ceasefire in April; however, sporadic exchanges of fire have continued, including recent tit-for-tat strikes. Trump indicated on Thursday that he had halted planned further military action, citing advancing negotiations.

The proposed framework also addresses the broader regional tensions, including steps to end hostilities between Israel and Hezbollah in Lebanon. Despite this, Israel conducted air strikes in southern Lebanon yesterday.

Separately, Tehran announced that the funeral for Supreme Leader Ali Khamenei, who reportedly died in the initial U.S. strike at the conflict’s onset, will be held on July 4.