Pakistan's Prime Minister Shehbaz Sharif announced that the US and Iran have agreed on the wording of a peace deal to end the war. Iranian Foreign Minister Abbas Araghchi echoed optimism, saying an agreement has never been closer.
- The announcement follows conflicting statements from Trump, who accused Iran of leaking inaccurate details. - Trump threatened a major escalation, including seizing Kharg Island, but later called off strikes after negotiations reached Iran's highest levels.
- The conflict centers on Iran's blockade of the Strait of Hormuz and US demands for Iran to surrender its highly enriched uranium stockpile. - Israel insists on weakening Iran's missile program and proxy network, and will not withdraw from occupied zones in Lebanon, Syria, Gaza, or the West Bank.
The conflict has rattled global markets, driving energy prices higher and increasing costs for consumers worldwide.