Pakistani officials say US‑Iran interim deal could reopen Hormuz Strait this weekend

Pakistan has acted as the main intermediary between Washington and Tehran after recent face‑to‑face talks stalled. Officials in Islamabad say the gap between the two sides’ positions is narrowing and that both are more open to proposals. A senior Pakistani official told Reuters that an interim memo could be ready for signing as early as this weekend. The strait normally carries about one‑fifth of the world’s oil and gas supplies, making its status a key market driver. On Monday, Iran launched missiles and drones at the United Arab Emirates amid heightened tensions, while the US military struck an Iranian‑flagged tanker hours after Trump issued a fresh ultimatum.

A diplomat in Islamabad noted that “both sides are now more amenable to suggestions, the distance between their proposals is reducing.” In a PBS interview, former President Trump said he believes there is a good chance to end the conflict but warned that failure would prompt a resumption of heavy US bombing of Iran. Iran’s negotiators are pressing for the unfreezing of roughly $6 billion of its overseas assets currently held in Qatar, which would be a core element of any temporary arrangement. Trump also insisted that under any deal Tehran would have to export its highly enriched uranium to the United States, a condition Iranian leaders have repeatedly said they cannot accept. Pakistani officials have previously hosted indirect talks and hope to host a signing ceremony in Islamabad before Trump’s scheduled trip to China.

If an interim deal is struck, the Strait of Hormuz—through which about one‑fifth of global oil and gas supplies normally flow—could reopen, easing pressure on energy markets. The release of frozen assets would provide Iran with immediate financial relief, while the US would gain a pause in hostilities without conceding on its demand for uranium export. Observers caution that previous optimism has often faded, and any agreement would likely be limited in scope and duration. Market analysts note that even a short‑lived reopening can trigger sharp moves in crude prices and shipping rates. Should the talks collapse, Washington could reimpose or tighten economic sanctions that have already cut off much of Iran’s oil revenue, keeping the country under sustained financial pressure.