President Donald Trump said Friday that a great settlement had been reached to end the war with Iran, describing the moment as a breakthrough after weeks of military confrontation in the Middle East.
Iranian officials pushed back immediately. Foreign Minister Abbas Araghchi said no agreement had been finalized, leaving the status of any ceasefire uncertain even as Washington promoted progress.
Pakistan, which has served as a mediator, said negotiators had moved toward a memorandum of understanding between the United States and Iran. Islamabad reported that a final agreed text had been reached, though Tehran had not publicly endorsed that characterization.
Global markets reacted to the mixed signals. Oil prices fell more than 3 percent and investors weighed whether shipping through the Strait of Hormuz might reopen if talks advance.
Diplomatic sources on June 12, 2026 said reopening the Strait of Hormuz and lifting shipping restrictions remained central to any ceasefire arrangement.
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Sources:
https://www.democracynow.org/2026/6/12/headlines