On June 12, 2026, significant developments emerged regarding a potential peace agreement between the United States and Iran, coinciding with escalating military actions near the critical Iranian Foreign Minister Abbas Araqchi expressed optimism about the tentative deal, suggesting Iran has emerged stronger from the ongoing conflict.
"Iran is the winner of the war with the US," said Araqchi on state television.
Abbas Araqchi, Iranian Foreign Minister
Despite the hopeful negotiations, U.S. forces shot down multiple Iranian drones threatening commercial vessels in the Strait. The U.S. Central Command confirmed the waterway remains open for transit.
The draft agreement reportedly includes the reopening of the Strait and lifting of the U.S. naval blockade on Iranian ports, critical steps for both sides.
However, the proposed terms have drawn criticism for possibly favoring Iran, with some suggesting that U.S. President Donald Trump secured little beyond the reopening of the strait.
Araqchi noted that Iran would retain control alongside Oman, emphasizing the strategic importance of the strait, which previously managed a significant portion of global oil and gas supply.
The deal could be signed within days, possibly involving U.S. Vice President JD Vance and Iran's parliament speaker, Mohammad Baqer Qalibaf, in Geneva.
Negotiations concerning Iran's nuclear program are expected to follow, with the U.S. aiming for comprehensive dismantling, though Araqchi indicated Tehran's preference for retaining diluted uranium.
The backdrop of these talks includes heightened military exchanges between Israel and Iranian forces, raising concerns about regional stability.
As the situation evolves, it poses political challenges for the U.S. administration, particularly amid rising fuel prices and waning approval ratings for Trump ahead of the upcoming midterm elections.