U.S. and Iran Agree on Peace Deal Text
A deal to end the 106-day US-Iran war would reopen the Strait of Hormuz, stabilize global oil markets, and reshape Middle East geopolitics -- one of the most consequential foreign policy developments of the year with direct US economic and military implications.
The Morning Brief · June 13, 2026 · Based on reporting by AP News
The United States and Iran have agreed on the text of a deal to end their 106-day war, a senior U.S. administration official said Friday. The U.S. expects to sign the agreement within days, according to Reuters. Three regional officials separately confirmed to the Associated Press that both sides are close to finalizing an accord.
The memorandum of understanding calls for the Strait of Hormuz to reopen immediately without tolls. Iran would receive sanctions relief tied to compliance milestones. Talks pressed on Friday. U.S. forces shot down multiple Iranian one-way attack drones heading toward the strait even as diplomats worked toward a signature. The strait carries roughly 20 percent of global oil supply. A signed deal would reopen it.
Sources
AP News — US and Iran are close to a deal to end their war, officials say
The United States and Iran are close to signing an agreement aimed at ending their war, according to three regional officials who spoke Friday to The Associated Press.
Reuters — Iran peace deal looms while new military action flares near Strait of Hormuz
The United States and Iran signaled on Friday that an agreement to end their war was close, with a senior U.S. administration official saying both sides had agreed on a text and that Washington expects to sign within days.
Axios — What's in the Iran deal Trump says he's ready to sign
The U.S.-Iran memorandum of understanding calls for the Strait of Hormuz to reopen immediately without tolls and for Iran to receive sanctions relief based on compliance milestones.
Reuters — Exclusive: US forces shoot down Iranian attack drones, source says
U.S. forces shot down multiple Iranian one-way attack drones heading toward the Strait of Hormuz, even as a peace deal neared.
