US-Iran Peace Deal Nears as Military Tensions Persist Around Strait of Hormuz

The United States and Iran appear close to reaching an agreement to end months of conflict, but fresh military incidents near the Strait of Hormuz show that tensions in the region remain high despite ongoing diplomacy.

US and Iran Move Toward Ceasefire Agreement

A senior U.S. administration official said both sides have agreed on a draft text and expect to sign an initial agreement within days. Iranian Foreign Minister Abbas Araqchi also confirmed that negotiations have made significant progress, although he said some changes to the proposed deal are still possible.

New Military Activity Reported Near Strait of Hormuz

Despite progress in negotiations, security concerns resurfaced on Friday when U.S. forces reportedly intercepted multiple Iranian one-way attack drones heading toward the Strait of Hormuz. According to U.S. officials, the drones posed a potential threat to commercial shipping in one of the world’s most important energy corridors.

Iranian media also reported explosions near Sirik port and Qeshm Island. Local officials said Iranian forces fired warning shots at vessels attempting to cross waters controlled by the Revolutionary Guards without authorization.

Strait of Hormuz Central to Proposed Deal

Sources familiar with the negotiations said the draft memorandum calls for reopening the Strait of Hormuz and ending the U.S. naval blockade on Iranian ports. The waterway previously handled about 20% of global oil and gas shipments before being disrupted by the conflict.

Araqchi stated that Iran, together with Oman, would continue overseeing traffic through the strategic route.

Nuclear Talks Remain Key Issue

Under the proposed framework, discussions over Iran’s nuclear program would begin after the initial agreement is signed. U.S. officials maintain that the final goal is the dismantling of Iran’s nuclear program, the destruction of highly enriched uranium stockpiles, and the implementation of long-term inspections.

Sanctions Relief and Frozen Assets Under Discussion

According to multiple sources, the agreement could include the gradual release of billions of dollars in frozen Iranian assets and relief from some oil export sanctions. In return, Iran would keep the Strait of Hormuz open and commit to further negotiations.

U.S. officials stressed that any sanctions relief would depend on Iran meeting its obligations under the agreement.

Israel Distances Itself From Negotiations

Israeli Prime Minister Benjamin Netanyahu said Israel is not part of the negotiations and will not be bound by the agreement. Israeli officials also indicated they intend to maintain freedom of action against any perceived security threats in the region.

The prospect of a deal has already affected financial markets, with oil prices falling more than 3% and global stocks rising as investors reacted to hopes of reduced tensions in the Gulf.