Once again, the world is waiting to see whether the US and Iran can strike a deal. On Thursday, President Trump said a final pact was close, though Tehran said it had not decided on anything, reports the Wall Street Journal. "Iran hasn't reached a final conclusion about the agreement," Foreign Ministry spokesman Esmail Baghaei was quoted as saying in state media. Friday has not brought much clarity, though the New York Times reports that a "tense calm" pervaded the region on hopes of a breakthrough.
Bloomberg, meanwhile, reports that a deal could be signed as soon as Sunday, on the sidelines of the G7 summit in France. The mere possibility of an end to the war had the price of oil dropping, notes the Guardian: Brent crude fell to below $85 a barrel on Friday, down from $93 overnight. But much uncertainty exists: On Friday, in a new Truth Social post, Trump called details leaked by Iran "fake news" and warned "they better get their act together, and FAST!"
One state outlet in Iran, the Mehr News Agency, outlined a draft agreement under which the US would suspend oil sanctions and ease a naval blockade, while Iran would reopen the Strait of Hormuz within 30 days, reports CNBC. The 14-point proposal also calls for the release of half of Iran's frozen assets, a full withdrawal of US forces from Iran, and reconstruction plans worth at least $300 billion from Washington and its allies, along with restrictions on Iran's nuclear program.
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