Trump Announces a “Grand Bargain”; Tehran Says Nothing Is Finalized Yet

U.S. President Donald Trump announced on Thursday, June 11, that Washington and Tehran are close to a “grand bargain” to end the recent conflict, and that if the documents are finalized, the signing ceremony will likely be held this weekend in Europe.

Speaking to reporters in the Oval Office of the White House, Trump said U.S. Vice President JD Vance is expected to represent Washington at the signing ceremony. He added, “We just reached a grand bargain regarding the war with Iran,” and emphasized that as soon as the agreement is signed, the Strait of Hormuz will be officially reopened. A few hours earlier, Trump also announced on Truth Social that, in light of progress in the negotiations, he had canceled the strikes planned for Thursday evening, which he had previously warned about.

These remarks come as, despite a fragile ceasefire between Iran and the United States, both sides have repeatedly accused each other of violating the agreement and carrying out military strikes in recent days. The current ceasefire was established on April 7 through the mediation of Pakistan, but missile clashes, airstrikes, and naval tensions in the region have been frequently reported over the past weeks.

Reuters, citing three Iranian sources, reported that a broad political understanding has been reached between the two sides, but several key issues still require further negotiation. These include the mechanism for releasing tens of billions of dollars in Iranian oil revenues frozen in foreign banks.

According to the report, the interim agreement under discussion could lead to the easing of restrictions imposed on Iranian ports and reduce tensions in the Strait of Hormuz, while issues related to Iran’s nuclear program and its stockpiles of highly enriched uranium would be deferred to subsequent negotiations. Trump reiterated that one of the core principles of the agreement is that Iran “must never acquire a nuclear weapon, not through production, not through purchase, nor by any other method.”

Nevertheless, officials of the Islamic Republic have responded cautiously to Washington’s claims. Esmaeil Baghaei, spokesperson for Iran’s Ministry of Foreign Affairs, said talk of a final agreement amounts to “mere speculation” and that its details have not yet been finalized.

While confirming that “a significant portion of the negotiating text has been prepared,” he added, “The Americans constantly change their positions, and Iran will not back down from its red lines.” Baghaei also pointed to the mediating roles of Qatar and Pakistan, warning that U.S. military actions have affected the diplomatic process and made the situation in the Strait of Hormuz more unstable.

Meanwhile, some Iranian sources claim that it was Washington that agreed to the framework proposed by Tehran, a claim that contrasts with the American narrative. Separately, some Israeli sources have also said they are unaware of the details of a potential agreement between Tehran and Washington.

Despite the differing narratives, Trump’s latest statements and reports of intensified diplomatic efforts indicate that both sides are exploring a framework to reduce tensions and end months of military and political confrontation. However, it remains unclear when, and with what specific details, the proposed agreement will be finalized.