Iran reviews US peace plan amid energy crisis and nuclear demands.

Tehran is currently scrutinizing a United States peace initiative aimed at formally concluding the conflict with Israel, a war that has already triggered a looming global energy crisis. While Iranian officials state they are reviewing the proposal, a critical divide remains: the plan appears designed to end active hostilities without immediately addressing Washington's most stringent demands, specifically the requirement for Iran to halt its nuclear enrichment program and reopen the strategically vital Strait of Hormuz.

On Wednesday, an Iranian Foreign Ministry spokesperson, speaking to the ISNA news agency, confirmed that Tehran would soon communicate its official response to the American overture. Meanwhile, US President Donald Trump expressed cautious optimism, asserting in the Oval Office that he believes the Iranian leadership desires a resolution. "They want to make a deal," Trump told reporters, noting that "very good talks" had taken place over the preceding 24 hours and declaring that an agreement was highly probable.

The urgency of this diplomatic gambit stems from the precarious state of the Strait of Hormuz, a narrow choke point through which roughly one-fifth of the world's oil and gas supply flows. For months, the waterway has been under a de facto blockade by both the US and Iran, a standoff that threatens to plunge the global economy into recession. Just prior to the latest developments, Trump suspended "Project Freedom," a US-led initiative to forcibly reopen the strait, citing tangible progress in these peace negotiations. Iran, however, has long insisted on maintaining sovereignty over the strait.

Details emerging from US media outlet Axios suggest the two adversaries are nearing a breakthrough on a 14-point memorandum. Under this framework, Iran would ostensibly agree to refrain from developing nuclear weapons and suspend uranium enrichment for a minimum of 12 years. In return, the United States would lift sanctions and unfreeze billions of dollars in Iranian assets held abroad. Furthermore, the agreement would mandate that both nations reopen the Hormuz corridor within 30 days of signing.

The stakes are immense, given the financial stranglehold sanctions have placed on Iran for decades. Under the landmark 2015 nuclear deal, some restrictions were eased until President Trump withdrew from the agreement during his first term, reverting many provisions and leaving vast sums of Iranian wealth frozen in foreign banks. It remains unclear how this new 14-point document differs from a similar plan proposed by Tehran last week, creating a complex diplomatic landscape.

Negotiations are reportedly being steered by President Trump's envoy, Steve Witkoff, and his son-in-law, Jared Kushner. Should a preliminary deal be struck, a 30-day clock would start for detailed negotiations to finalize the full agreement. This comprehensive pact would not only end the competing blockades and lift sanctions but also impose specific curbs on Iran's nuclear activities, which remain permitted under the United Nations' nuclear watchdog guidelines. However, sources indicate the memorandum might not initially require immediate concessions on issues Washington has long pressed, such as curbing Iran's ballistic missile program or ending support for proxy groups in the Middle East—demands Tehran has consistently rejected.

Complicating the picture is the issue of Iran's nuclear stockpile. While the sources did not mention Iran's existing reserve of over 400kg (900lb) of near-weapons-grade uranium, Israeli Prime Minister Benjamin Netanyahu, a key ally of the US president, stated that both leaders agreed all enriched uranium must be removed from Iranian soil to prevent weaponization. This stance follows the US and Israeli airstrikes on Iranian nuclear facilities in June, which Trump claimed obliterated the program, even though a significant portion of that enriched uranium remains buried beneath the rubble of the bombed sites.

Iran steadfastly denies any desire to acquire nuclear weapons, maintaining that its program is strictly for civilian purposes in accordance with the non-proliferation treaty. As the clock ticks, Tehran has yet to formally accept or reject the latest American proposal, leaving the world to wait for a response that could either avert a global energy catastrophe or deepen the crisis.

Iranian officials have firmly rejected the latest diplomatic overtures, casting doubt on the feasibility of a quick resolution. Ebrahim Rezaee, a lawmaker and spokesperson for the parliament's influential foreign policy and national security committee, dismissed the American proposal as "more of an American wish-list than a reality." Meanwhile, Iran's Parliament Speaker, Mohammad Bagher Ghalibaf, took to social media to mock reports suggesting the two nations were nearing an accord, bluntly stating that "Operation Trust Me Bro failed."

Despite these public rebukes, the situation remains fluid. Al Jazeera's Resul Serdar Atas, reporting from Tehran on Thursday, noted that Iran is still reviewing the US text, with a response expected for Pakistani mediators later today. The Pakistani Ministry of Foreign Affairs expressed welcome for the potential breakthrough but maintained a tight grip on information, stating in a statement quoted by Al Jazeera Arabic: "As mediators, we will not lose the trust of both parties by revealing details." Atas clarified the current narrow focus of talks: "Iranians are saying that, at this stage, they're not negotiating their nuclear programme; it's only about ending the war on all fronts." He emphasized that Tehran is seeking direct guarantees from the UN Security Council, the lifting of sanctions, and the reopening of the Strait of Hormuz before any discussion on nuclear issues can proceed.

The nuclear file remains a rigid obstacle. Almigdad Alruhaid of Al Jazeera reported from Tehran that Iran has established "a very firm red line" on the issue, asserting that "The nuclear enrichment programme is non-negotiable." Former US Assistant Secretary of State Mark Kimmitt supports this view, arguing that a demand for an immediate halt to all uranium enrichment is unrealistic. Speaking to Al Jazeera, Kimmitt explained, "If there is anything the Iranians are going to insist upon in these negotiations, it is their right to enrich uranium to the 3.67 percent level, which is allowed under nuclear non-proliferation treaties." He noted that even the 2015 deal permitted such enrichment, though he suggested Trump might be interested in Iran's existing stockpile of enriched uranium outside the country, potentially agreeing to move it or dilute it. However, Alruhaid countered that Iran is resisting the handover of its current stockpile, which is estimated at about 440kg (970lb) of uranium enriched to 60 percent—a level far below the 90 percent threshold required for a nuclear weapon.

Tensions also simmer over the strategic Strait of Hormuz. Alruhaid observed that "sovereignty on the Strait of Hormuz is becoming one of the main issues on the negotiating table," describing how Iran is tightening its control and setting new protocols for every vessel attempting to pass through. This stance comes as Gulf allies, who suffered heavily from Iranian retaliatory strikes after the US and Israel launched attacks on Iran on February 28, push for the restoration of navigation without conditions. These allies were the primary targets of Iranian strikes aimed at US military assets following those initial attacks. President Trump has repeatedly highlighted the prospect of an agreement to end the war, yet so far, those efforts have yielded no success.

Tensions remain high between the two nations, with deep disagreements persisting over critical flashpoints like Iran's nuclear program and its dominance of the Strait of Hormuz.

In a late-breaking development, sources close to the mediation process told Reuters that a resolution is imminent. An agreement on a concise, one-page memorandum appears ready to formally bring the conflict to an end.

This proposed deal promises to unlock the strait for vital shipping lanes, remove U.S. sanctions against Iran, and impose strict limitations on Tehran's nuclear activities.

However, the urgency of these claims faces immediate scrutiny. Al Jazeera has stated it could not independently verify the authenticity of these reports, leaving the details shrouded in uncertainty.