TEHRAN — A peace agreement between Iran and the U.S. is expected to be finalized in Geneva on June 14, 2026, following a ceasefire that began on April 7, 2026. Negotiators have been working on a draft memorandum to end the conflict.

Pakistani Prime Minister Shehbaz Sharif stated that a deal to end the conflict was expected within 24 hours. Sharif said, "We are closer to a peace deal than ever before." However, Iranian foreign ministry spokesperson Esmail Baghaei indicated that the signing of the agreement would not occur immediately. Iran's foreign ministry stated that Iranian institutions must review and approve any proposal before an agreement is finalized.

The reported 14-point draft memorandum includes provisions for a ceasefire across all fronts and an end to military attacks on Lebanon. It also contains plans to reopen the Strait of Hormuz within 30 days under Iranian administration and includes the release of between $6 billion and $24 billion in frozen Iranian funds.

U.S. President Donald Trump stated the strait would open immediately after the signing of the agreement. Iran maintained control over maritime traffic there following the outset of the war. The Iranian government stated it would not transfer control to an external party. Trump plans to discuss demining with allied nations at the upcoming Group of Seven summit in France. The governments of Britain and France have offered to assist.

A senior Iranian official indicated that the agreement would include the removal of oil-related sanctions. The reported draft memorandum proposes a 60-day negotiation period covering nuclear issues, sanctions relief, and post-war compensation. Iran is expected to remove or dilute its 60% enriched uranium under the impending deal. Tehran stated its peaceful nuclear program will continue unchanged even if an agreement is signed. Israel has demanded that any final settlement include the removal of enriched uranium stockpiles, the dismantling of enrichment infrastructure, restrictions on Iranian missile production and an end to Iranian support for regional armed groups. Trump also declined to support a proposed Israeli intelligence operation utilizing Kurdish Iranians and Iraqi forces for a ground advance against the Iranian regime.