Overview
- President Donald Trump said on Saturday that a peace memorandum has been "largely negotiated" and would include reopening the Strait of Hormuz, though no signed agreement has been made public.
- Pakistan has driven shuttle diplomacy, sending Army chief Asim Munir to Tehran and offering to host a new round of talks as mediators report the closest progress since April's ceasefire.
- Key gaps remain: Iran wants to defer detailed nuclear issues to a later phase while U.S. officials say Iran must address enriched uranium and guarantee free transit through the strait.
- Several Republican senators publicly criticized the emerging terms, arguing the draft would weaken military gains and pose risks to Israel, signaling rising domestic political opposition in Washington.
- If finalized, the short memorandum would restore commercial shipping and ease pressure on global oil markets but the deal is fragile, contingent on details that negotiators say will be settled in the coming days and follow‑on talks.