United States and Iran approach potential peace agreement mediated by Pakistan
Pakistan is mediating a potential 14-point memorandum of cooperation between the United States and Iran aimed at establishing a regional ceasefire. Prime Minister Shehbaz Sharif announced on June 12-13, 2026, that the agreement could be finalized within 24 hours, with electronic signatures to follow. US Treasury Secretary Scott Bessent indicated that a deal might be reached by the weekend or Monday, ahead of the G7 summit in France. Iranian Foreign Ministry spokesperson Esmaeil Baghaei noted that while a deal is possible in the coming days, the signing is not definitively scheduled for Sunday, and emphasized that the text excludes nuclear issues for now. Nuclear program discussions are deferred to a separate 60-day diplomatic process contingent on the success of the ceasefire. Reports from Iranian sources, including Fars News, have cautioned that negotiations are ongoing and dismissed claims of an immediate, confirmed signing in Geneva. Meanwhile, international media reports suggest potential terms include the unfreezing of Iranian assets and lifting of oil sanctions in exchange for the opening of the Strait of Hormuz.