Iran Deal Deadline Looms
Trump and Pakistan anticipate Iran deal signing Sunday, while Tehran requests more time.
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A nuclear deal between the United States and Iran could be signed as soon as Sunday, according to President Trump and Pakistani Prime Minister Shehbaz Sharif. But Iran is pushing back on the timeline. Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Sunday is "unlikely" and that a deal is expected in the "coming days" instead, according to AP.
Trump posted on Truth Social that the Strait of Hormuz will open "immediately after" the deal is signed. The strait carries about 20% of the world's oil. It has been closed since Iran shut it down in March 2026, sending oil prices as high as $110 per barrel, according to AP.
How the U.S.-Iran War Started and Stalled
The conflict began on February 28, 2026, when the U.S. and Israel launched "Operation Epic Fury," a series of airstrikes on Iranian nuclear and military sites. A strike in Tehran killed Supreme Leader Ayatollah Ali Khamenei the following day. Iran responded by closing the Strait of Hormuz, planting sea mines, and boarding merchant ships, according to AP.
Pakistan, Qatar, and Turkey brokered a fragile 60-day ceasefire on April 7. Talks in Islamabad followed but ended without a deal. The U.S. then launched a full naval blockade of Iranian ports. On June 11, Trump said he cancelled planned new strikes after mediators reached what he called a "great settlement," according to AP.
Trump Wants Sunday Signing as Birthday Deadline Looms
Trump turns 80 on Sunday. He has pushed hard for a signing ceremony that day. He called the new agreement a "WALL TO NO NUCLEAR WEAPON" and contrasted it with the 2015 Iran nuclear deal, which he has long criticized. On Friday, he also lashed out at Iran on social media, calling them "dishonorable" for allegedly leaking false terms of the deal, according to AP.
Pakistani PM Sharif has been the lead mediator. He said Friday that "peace has never been this close" and that his team is "preparing for the electronic signing of the agreement." Iranian Foreign Minister Abbas Araghchi said a "memorandum of understanding has never been closer" but cautioned against reading too much into media reports, according to AP.
War's Economic Toll: $2.2 Trillion and Rising
The conflict has been costly. The 2026 Global Peace Index estimates the war has cost the world economy $2.2 trillion. Brent crude oil peaked at $110 per barrel in April 2026. By June 12, as news of the deal spread, prices had dropped to $89.37 per barrel. The average American family has paid an estimated $750 out-of-pocket in higher fuel and food costs, according to AP.
Economist Mark Zandi of Moody's Analytics warned that even if the Strait reopens Sunday, "the damage has already been done." Global supply chains could take months to recover. Reopening the strait would release roughly 13 million barrels of Gulf oil per day that has been blocked or rerouted since March, according to AP.
Iran's New Leader and What the Deal Actually Requires
With Khamenei dead, his son Mojtaba Khamenei has emerged as the likely successor, though he has not yet been formally confirmed. He has reportedly authorized the current diplomatic track. The deal sets a 60-day window to finalize the removal and destruction of Iran's enriched uranium stockpile. It also reportedly extends ceasefires in Lebanon, where Israel has been fighting Hezbollah, according to AP.
Not everyone is on board. Israeli PM Benjamin Netanyahu said, "As long as I am prime minister, Iran will not have nuclear weapons." In the U.S., Democratic lawmakers argue the war was launched without Congressional approval. A Pew Research poll from March 2026 found 61% of Americans disapprove of Trump's handling of the Iran conflict, according to AP.
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