US President Donald Trump said the US has reached an “excellent deal” with Iran and that final documents are being drafted. He said the agreement could be completed within days and signed in Europe this weekend, with Vice President JD Vance expected to attend.
Trump declined to set a deadline for the agreement, saying critics would later claim he failed to meet it. He added that the exact timing is not important because he believes a deal will ultimately be signed.
Saudi media, citing sources, reported that a draft framework would require both sides to immediately halt offensive military actions. The proposal would prohibit military strikes during implementation and establish a mediator-led mechanism to resolve any violations.
Israel said Trump spoke with Prime Minister Benjamin Netanyahu about an Iran memorandum of understanding that has entered the negotiation stage. Netanyahu welcomed Trump’s commitment that any final agreement would include removal of enriched nuclear material, dismantling of enrichment facilities, limits on missile production and an end to Iranian support for regional proxy groups.
Qatar said its Emir discussed regional diplomacy and US-Iran talks with Trump. According to Qatar, the proposed framework has advanced, gained support from several countries including Qatar, and preparations are underway for a possible signing announcement.
Iran, however, said no final agreement has been reached and described external reports as speculative. Foreign Ministry spokesman Esmaeil Baghaei said most of the draft text is complete but accused the US of repeatedly changing its position. He stressed that Iran will not compromise on its red-line issues, while Qatar and Pakistan continue mediation efforts. Iran also said the Strait of Hormuz remains closed due to US actions and warned that safe passage for vessels cannot currently be guaranteed.
Financial markets reacted positively to reports of progress. The Dow Jones surged 930 points, while the S&P 500, Nasdaq and Russell 2000 gained between 1.7% and 3%. Oil prices declined, with WTI crude falling 1.1% and Brent crude dropping 1.2%, reflecting reduced concerns about supply disruptions and risks to shipping through the Strait of Hormuz.
BBW News Desk is the editorial team of BigBreakingWire, a digital newsroom focused on global finance, markets, geopolitics, trade policy, and macroeconomic developments.
Our editors monitor government decisions, central bank actions, international trade movements, corporate activity, and economic indicators to deliver fast, fact-based reporting for investors, professionals, and informed readers.
The BBW News Desk operates under the editorial standards of BigBreakingWire, prioritizing accuracy, verified information, and timely updates on major global developments.
