Pakistan's Prime Minister Shehbaz Sharif expressed optimism that an interim US-Iran deal to reopen the Strait of Hormuz could be finalized within 24 hours,raising hopes for a broader agreement following recent skirmishes near the strategic waterway.

The $30 million toe in the water

The primary US objectives in the deal are to reopen the strait to maritime traffic and curb Iran's nuclear program, while Iran insists on retaining control over the waterway and gaining immediate access to its frozen funds.

Pakistan's Prime Minister Shehbaz Sharif revealed that an interim US-Iran deal to reopen the Strait of Hormuz could be finalized within 24 hours,raising hopes for a broader agreement following recent skirmishes near the strategic waterway.

An echo of Sydney's 2024 institutional buy-up

This optimism was echoed by a senior Trump administration official who expressed an 80% to 85% chance of the pact being signed soon, and by Iran's Foreign Minister Abbas Araghchi, who suggested the signing could take place in the coming days.

The US expects the deal to ensure Iran doesn't have a nuclear weapons program, while allowing it to maintain a civilian nuclear energy program.

What auditors flagged in the May filing

Iran, however, insists on retaining a degree of control over the waterway and gaining immediate access to its frozen funds, with negotiations over the Islamic Republic's uranium enrichment to take place after the interim deal is signed.

A central element of Trump's emerging Iran deal is a step-by-step approach that would see the Strait of Hormuz reopened followed by Tehran getting economic rewards each time it meets US demands.

Who is the unnamed buyer?

However, Iran's Foreign Ministry has yet to fully review the draft, and the terms of the accord still need to be approved by Iranian Supreme Leader Mojtaba Khamenei.

Bringing a conclusive end to the conflict, now in its fourth month, has presented Trump with a complex political challenge.

A familiar pattern from the 2019 crash

He aims to present the deal as a win to national security hawks in his own party and to an American public that has increasingly turned against the war .

Energy prices continued to fall on Friday following Trump's announcement a day earlier that he had canceled plans for new strikes on Iran .