US says peace deal 'largely' negotiated, Iran vows to defend interests - news.cgtn.com

On 24 May 2026, Trump said a peace deal with Iran was 'largely negotiated' and would reopen the Strait of Hormuz. Axios reported that the draft memorandum includes a 60-day ceasefire extension, opening the strait and easing sanctions on Iranian oil sales. Trump also said the US would not 'rush into' a deal.

Iran disputed Trump's account. Iranian media said Hormuz would stay under Iran's management and that Trump's post was 'inconsistent with reality', and Pezeshkian vowed to defend national interests. Rubio, speaking in India, said an announcement was possible later Sunday and that progress had been made on an outline to open the strait 'without toll'. An Israeli official called the emerging deal 'bad', and Pakistan's prime minister hoped to host the next round of talks.