US President Donald Trump said on Saturday that a memorandum of understanding on a peace deal with Iran was “largely negotiated” and that the Strait of Hormuz would reopen if the arrangement goes through.
Trump said the “final aspects and details” were still being discussed and would be announced shortly, according to Reuters, as Washington, Tehran and Pakistani mediators reported movement in the talks.
Also Read | Trump weighs fresh Iran strikes as fragile ceasefire talks enter crunch phase
“An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries, as listed…” – President Donald J. Trump pic.twitter.com/Z49bOkkUoh
— The White House (@WhiteHouse) May 23, 2026
Talks edge a little further
The comments came amid efforts to end nearly three months of war, after the U.S. and Israel launched strikes on Iran in February. Trump said he had spoken by phone with leaders from Saudi Arabia, Qatar, the United Arab Emirates, Jordan, Egypt, Turkey and Pakistan.
Pakistan has been trying to narrow differences between the two sides, while Pakistani officials described the negotiations as “encouraging” and said the emerging framework could be “fairly comprehensive to terminate the war.”
UPDATE: President Trump held a “BREAKTHROUGH” call with Middle Eastern leaders on Iran, per Fox
President Trump is expected to inform Netanyahu of the deal’s details tonight, which could be finalized IMMINENTLY.
Seal the deal, 47! pic.twitter.com/EgvHPQ1k2X
— Nick Sortor (@nicksortor) May 23, 2026
A three-step path emerges
Reuters reported the proposed framework would proceed in three stages: formally ending the war, resolving the crisis around the Strait of Hormuz and then opening a 30-day window for broader negotiations, which could be extended.
One Pakistani source described the next phase as dependent on whether the United States accepts the memorandum, while another said further talks could follow after the Eid holiday ends.
Also Read | Kalshi and Polymarket face US House scrutiny over suspicious insider betting activity
The final word remains elusive
Iran pushed back quickly. Iran’s Fars news agency described Trump’s claim as “inconsistent with reality” and reported that the Strait of Hormuz would remain under Iranian management.
Iranian foreign ministry spokesperson Esmail Baghaei said, “The trend this week has been towards a reduction in disputes, but there are still issues that need to be discussed through mediators. We will have to wait and see where the situation ends in the next three or four days.”
U.S. Secretary of State Marco Rubio, speaking in New Delhi, repeated Washington’s position that “Iran can never have a nuclear weapon” and said the straits must be open without tolls, while Iran maintained that it does not seek nuclear weapons and says it has the right to enrich uranium for civilian purposes.
