Iran’s ILNA news agency posted on their Telegram channel an Al-Arabiya TV claim about US and Iran reaching an agreement on a draft mediated by Pakistan. They say it’s expected to be announced in the next few hours. (h/t @LiveSquawk on X for catching this early)
The draft includes:
Immediate and comprehensive ceasefire on all frontsThe Parties mutually undertake to refrain from targeting infrastructureFreedom of navigation in the Persian Gulf and the Strait of Hormuz is guaranteed under a joint monitoring mechanismSanctions will be gradually lifted in exchange for Iran’s compliance with the terms of the dealNegotiations on outstanding issues shall begin within a maximum of seven days
This is now getting more coverage. The risk sentiment improved with stocks rising, oil falling, USD and Treasury yields sliding. A private consultant on X (@BashaReport) posted the original version published on Al-Arabiya TV. The key provisions include:
An immediate, comprehensive, and unconditional ceasefire on all fronts (land, sea, air)Mutual commitment not to target military, civilian, or economic infrastructureCessation of military operations and instigating media warfareRespect for sovereignty, territorial integrity, and non-interference in internal affairsGuaranteed freedom of navigation in the Gulf, Strait of Hormuz, and Sea of OmanEstablishment of a joint monitoring and dispute resolution mechanismLaunch of negotiations on outstanding issues within seven daysGradual lifting of U.S. sanctions in exchange for Iran’s adherence to the termsAffirmation of compliance with international law and the UN Charter
The agreement is stated to enter into force immediately upon formal announcement by both parties.
This article was written by Giuseppe Dellamotta at investinglive.com.