Iranian Foreign Minister Abbas Araghchi said the Islamabad Memorandum of Understanding between Iran and the United States has never been closer and urged media outlets to refrain from speculating about its contents until it is finalized. Pakistani Prime Minister Shehbaz Sharif said the United States and Iran have agreed on a final text of the peace deal and that Islamabad is preparing for an electronic signing within 24 hours. The United States and Iran have signed the memorandum digitally, and a formal signing ceremony is planned for Friday in Geneva, Switzerland.

Accounts differ on whether a final text has been settled. Sharif’s statement that a final text has been agreed is reported by Indian, other and Western outlets, while a Russian source says Iran has not yet informed the Pakistani mediator that the text of the memorandum has been finalized.

Al-Monitor reported that Pakistan said the United States and Iran could finalize an agreement within 24 hours. Bluesky reported that Pakistani mediators announced a finalized draft peace deal on June 12, 2026, that includes an indefinite Iranian nuclear ban, sanctions relief, and provisions concerning the Strait of Hormuz.

GDELT reported that U.S. Vice President JD Vance expected the text of the memorandum to be released this week, that the memorandum is intended to kick off 60 days of further negotiations, and that the agreement is built around a two‑step verification process that would allow Iran access to an unsanctioned economy.

Al-Monitor reported new skirmishes have occurred in the Strait of Hormuz during the war, and Bluesky reported the war began with U.S.–Israeli strikes in February. TASS reported that Iran has not yet informed the Pakistani mediator that the text of the memorandum has been finalized.