Pakistan announces 'final consensual text' for US-Iran peace deal, Iran says memorandum 'never closer'

Pakistan's Prime Minister Shehbaz Sharif declared on 12 June that the United States and Iran had agreed on a 'final and consensual text' for a peace deal, after weeks of mediation. His statement came hours after Iranian Foreign Minister Abbas Araghchi said a memorandum of understanding with Washington had never been so close. Vice President JD Vance confirmed that the terms could be signed in Europe as soon as this weekend and stressed that economic benefits for Iran would only flow once its obligations are met.

Breakthrough amid recriminations

Sharif's X post announced the final text and said Pakistan was now working closely with both sides on the next steps. He denounced an 'incessant disinformation campaign by those who wish to sabotage the peace agreement.' Araghchi similarly urged media to stop speculating about the content until the memorandum is finalized.

Peace has never been this close as it is now.

President Donald Trump had said a day earlier that a 'grand deal' was in hand and could be signed over the weekend. But after Iranian state media published alleged details of the proposed agreement, Trump accused Tehran of releasing false terms that 'have nothing to do with the truth.' Iran's press reported there would be no renunciation of its nuclear program and that the issue would be discussed with Washington within 60 days.

The deal is structured so that the concerns of the United States and its allies are prioritized. If the Islamic Republic of Iran fulfills its obligations, economic benefits will flow to them and to the entire region.

The war and the Strait of Hormuz

The conflict erupted on 28 February when the United States and Israel launched a military attack on Iran, citing Tehran's inflexibility over uranium enrichment. Iran responded by closing the Strait of Hormuz and launching strikes against Israel, US bases and civilian infrastructure in Gulf countries. Pakistan stepped in as mediator, securing a two-week ceasefire on 8 April that was repeatedly extended by Trump. On 13 April the US declared its own naval blockade to prevent Iran from profiting from safe-passage fees. Before the war, more than 100 ships transited the strait daily; now only one or two pass each day.

Cautious reactions

UN spokesman Stéphane Dujarric called the general tone encouraging but urged prudence, noting that a pact had supposedly been close before. Some commentators expressed scepticism: CNN reported Trump had already claimed an imminent deal at least 38 times. Gregg Carlstrom of The Economist wrote that American credibility had deteriorated so much that a presidential announcement of a diplomatic agreement is met with 'let's wait for confirmation from Tasnim', a news agency linked to Iran's Revolutionary Guards. Iranian media, citing official IRNA, said the country would not cede control of the Strait of Hormuz in any deal.

Next steps

The parties have yet to resolve differences over sanctions relief and the status of Iran's nuclear program. Pakistani officials are now working on logistics for a signing ceremony, possibly this weekend in Europe. 'All details will be shared with the public at the appropriate time,' Araghchi said.