Iran's ILNA news agency posted on their Telegram channel an Al-Arabiya TV claim about US and Iran reaching an agreement on a draft mediated by Pakistan. They say it's expected to be announced in the next few hours. (h/t @LiveSquawk on X for catching this early)
The draft includes:
- Immediate and comprehensive ceasefire on all fronts
- The Parties mutually undertake to refrain from targeting infrastructure
- Freedom of navigation in the Persian Gulf and the Strait of Hormuz is guaranteed under a joint monitoring mechanism
- Sanctions will be gradually lifted in exchange for Iran's compliance with the terms of the deal
- Negotiations on outstanding issues shall begin within a maximum of seven days
This is now getting more coverage. The risk sentiment improved with stocks rising, oil falling, USD and Treasury yields sliding. A private consultant on X (@BashaReport) posted the original version published on Al-Arabiya TV. The key provisions include:
- An immediate, comprehensive, and unconditional ceasefire on all fronts (land, sea, air)
- Mutual commitment not to target military, civilian, or economic infrastructure
- Cessation of military operations and instigating media warfare
- Respect for sovereignty, territorial integrity, and non-interference in internal affairs
- Guaranteed freedom of navigation in the Gulf, Strait of Hormuz, and Sea of Oman
- Establishment of a joint monitoring and dispute resolution mechanism
- Launch of negotiations on outstanding issues within seven days
- Gradual lifting of U.S. sanctions in exchange for Iran's adherence to the terms
- Affirmation of compliance with international law and the UN Charter
The agreement is stated to enter into force immediately upon formal announcement by both parties.
