US, Iran near draft peace deal, Pakistan backs diplomacy

Global tensions appeared to ease Wednesday as reports suggested the United States and Iran are close to finalizing a draft peace agreement, with Pakistan and regional allies backing the diplomatic push.

On his program "On My Radar", Kamran Khan says there is growing optimism worldwide, with developments emerging from Washington, Islamabad and Tehran pointing toward a possible breakthrough.

According to Khan, a draft agreement between the U.S. and Iran has been prepared and could be finalized within the next 24 to 48 hours. The proposed deal is expected to include limits on Iran’s nuclear program, easing of U.S. sanctions, and the reopening of the Strait of Hormuz, a critical global shipping route.

The latest momentum follows a statement by U.S. President Donald Trump, who said on social media that “significant progress” had been made toward a final agreement with Iran. Trump also announced a temporary halt to “Project Freedom,” an operation in the Strait of Hormuz, to allow space for diplomacy.

Pakistan welcomed the move. Prime Minister Shehbaz Sharif thanked Trump for what he described as a positive response to requests from Pakistan, Saudi Arabia and other allied countries.

In a statement posted on X, Sharif said the development could help advance peace, stability and reconciliation in the region, adding that Pakistan remains hopeful for a lasting agreement.

Iran’s Foreign Minister Abbas Araghchi responded cautiously, saying Tehran is open to negotiations but any agreement must be “fair and comprehensive.” He did not directly name Trump in his remarks.

A report by U.S. news outlet Axios said Washington and Tehran are close to agreeing on a one-page framework to end hostilities. The report outlined key elements of the proposed deal, though full details have not been publicly disclosed.

Iran’s Foreign Ministry spokesperson told CNBC that Tehran is reviewing a 14-point proposal received from Washington.

Reuters, citing Pakistani sources, also reported that both sides are nearing an agreement to end the conflict. However, these claims could not be independently verified.

U.S. officials have indicated that Washington has achieved its objectives in the conflict. Secretary of State Marco Rubio said “Operation Epic Fury” has concluded and its goals have been met, signaling a readiness to transition toward diplomacy.

China has also emerged as a key player behind the scenes. Araghchi was in Beijing on Wednesday, marking his first visit to China since the conflict began.

Chinese Foreign Minister Wang Yi expressed concern over the prolonged tensions and called for the immediate and full reopening of the Strait of Hormuz.

Despite the positive signals, uncertainty remains. Trump warned that failure to reach an agreement could result in intensified military action against Iran, while success would lead to the end of operations and full reopening of the waterway.

Kamran Khan says the coming days will determine whether the current momentum translates into a lasting peace agreement.