US–Iran Draft Agreement Reaches Final Stage, Mediators Say

 

Kathmandu, August 5 — A draft agreement aimed at easing tensions between the United States and Iran has reached its final stage, according to mediators involved in the diplomatic process. International media reports say the proposed deal has been drafted and is now undergoing final consultations.

A spokesperson for Qatar's Ministry of Foreign Affairs said the draft agreement is in an advanced stage and represents a short-term diplomatic effort to reduce regional tensions. The spokesperson clarified that no direct negotiations between Washington and Tehran are currently underway, but Qatar, Oman, and Pakistan are continuing to facilitate dialogue between the two sides.

As part of the mediation efforts, Qatar's Emir, Sheikh Tamim bin Hamad Al Thani, held a telephone conversation with US President Donald Trump to discuss ways to de-escalate tensions in the Middle East and resolve differences between the United States and Iran.

Meanwhile, Iran has warned that it will not tolerate any blockade of its exports or commercial vessels by the US Navy. Mohsen Rezaei, a military adviser to Iran's Supreme Leader, said Tehran would not allow ships to pass through the Strait of Hormuz via unauthorized routes and warned that US warships using alternative routes could become targets.

Iranian Foreign Ministry spokesperson Esmail Baghaei said talks with Oman on establishing secure maritime routes are progressing positively. He noted that the discussions are aimed at protecting the sovereignty and national security of both countries.

US Secretary of State Marco Rubio also acknowledged progress in negotiations on ensuring safe navigation through the Strait of Hormuz but said the agreement has not yet been finalized. He stated that while the long-term objective remains Iran's nuclear disarmament, the immediate priority is to ensure the safe passage of additional commercial vessels through the strategic waterway.

Signs of progress toward reopening the Strait of Hormuz triggered a sharp decline in global oil prices. Brent crude fell by more than five percent to $79.50 per barrel, marking the first time since July 13 that it dropped below the $80 level. Prices later recovered slightly to around $80.50 per barrel.

US benchmark West Texas Intermediate (WTI) crude also declined by more than 5.5 percent to $75.77 per barrel, its lowest level in three weeks, before rebounding to approximately $76.90 per barrel.

The decline in oil prices boosted investor confidence, leading to a strong rally in the US stock market, according to international media reports.