Context:

Iran’s foreign minister said a deal with the United States to extend the ceasefire, reopen the Strait of Hormuz, and begin nuclear negotiations is closer than ever, with Tehran signaling optimism to shape the narrative. Pakistan’s prime minister, a mediator, claimed an agreed text has been reached and that next steps are being coordinated. President Trump characterized the comments as positive but demanded public clarifications about state media reports on frozen Iranian assets and potential concessions. While both sides push toward a weekend or Monday signing, key disagreements remain, notably over the fate of billions in frozen funds and the timing of any unfreezing. The situation remains fluid as officials weigh concessions against domestic and international reactions.

Dive Deeper:

• Iranian Foreign Minister Abbas Araghchi stated on X that an agreement to extend the ceasefire, reopen the Hormuz passage, and launch negotiations on Iran’s nuclear program has 'never been closer,' signaling a rare moment of optimism from Tehran.

• Pakistan’s prime minister Shehbaz Sharif, also a mediator, claimed an 'agreed upon text' of the peace deal has been reached and that Pakistan is coordinating with the parties on next steps.

• Former US President Donald Trump described Araghchi’s post as 'very positive' in a brief Axios interview, while demanding public clarification about Iranian state media reports and alleging they misrepresented the terms.

• Trump asserted Iran privately apologized for circulating false information and suggested a signing could occur over the weekend or on Monday, though Tehran indicated no final decision had been made.

• Officials say the media discourse is shaping narratives even as both sides move toward a potential agreement, with competing narratives complicating the path to formal sign-off.

• A major sticking point concerns the fate of billions of dollars in frozen Iranian assets: Tehran says funds would be unfrozen immediately, while the U.S. maintains access would come only in exchange for nuclear concessions.

• Some sources indicate the deal has been approved at high levels in Iran but may still lack approval from Supreme Leader Ayatollah Khamenei, highlighting internal clearance as a potential constraint on a final decision.