US-Iran Peace Deal Nears

The United States and Iran are close to signing a peace deal to end their conflict, with both sides agreeing on a draft text. The proposed memorandum of understanding includes reopening the Strait of Hormuz and lifting U.S. naval blockades and sanctions on Iranian ports, in exchange for Iran opening the strait. Negotiations over Iran's nuclear program, which Donald Trump cited as the reason for the war, are to follow. While the U.S. aims for the dismantling of Iran's nuclear program, Abbas Araghchi stated Iran prefers to retain its highly enriched uranium in diluted form. The deal also involves the release of billions in frozen Iranian assets. Despite progress, military tensions persist, with U.S. forces shooting down Iranian drones near the Strait of Hormuz and Iranian forces firing warning shots at vessels. Israel, led by Benjamin Netanyahu, is not a party to the negotiations and insists on its freedom to act against threats, clashing with Donald Trump over military actions in Lebanon. The impending deal has led to a rally in global stock markets and a significant drop in Brent Crude prices.