The United States and Iran have settled on a "tentative" peace deal – with the requirement Donald Trump signs off on the agreement.
With the fragile deal hanging by a thread, the proposed framework would extend the truce for another 60 days and trigger negotiations on Tehran's nuclear programme, US officials declared.
It is understood the deal still needs to be given a final blessing by the US President as well as Iranian leadership, in place of the absent Ayatollah.
But, over in Tehran, Tasnim news agency claimed a source close to the peace talks said the ceasefire extension was neither agreed to nor confirmed.
If Mr Trump signs off the deal, the diplomatic development would be hailed as a massive breakthrough following weeks of juddering peace talks.
Earlier today, Treasury Secretary Scott Bessent said: "The teams have been going back and forth.
He added "everything depends on what the President wants to do, and President Trump is not going to make a bad deal for the American people".
Mr Bessent, when questioned over whether Iran could receive relief from sanctions, said it was a "multifaceted agreement".
The diplomatic development could signal another step towards the end of the tumultuous conflict
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He said "nothing is going to be on the table until we see the Strait of Hormuz open and the Iranians agree that they have to turn over the highly enriched uranium and that they can't have a nuclear programme".
Both nations have thrown attacks at one another over the past week, with each country claiming the other has broken the ongoing truce.
On Wednesday, Mr Trump told reporters: "They just want to make a deal – I don't think they have a choice.
"So far, they haven't gotten (sic) there, and we're not satisfied with it, but we will be. Either that or we'll have to just finish the job."
US-IRAN PEACE TALKS - READ THE LATEST:
Both nations have accused the other of breaking the ongoing ceasefire
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Just last night, American forces launched military strikes against Iran, targeting a military facility in the key port city of Bandar Abbas.
The three-month conflict has triggered international panic after Iran disrupted shipping routes through the Strait of Hormuz.
As a result, oil and gas prices soared.
Earlier this week, the US Central Command (Centcom) confirmed launching strikes on southern Iran, targeting missile sites and vessels in an alleged bid to deploy naval mines in the Strait.
The Pentagon said the operations were conducted "to protect our troops from threats posed by Iranian forces".
However, the move triggered the Islamic Republic, who condemned the attacks as "a grave violation of the ceasefire" and warned that Iran "will not leave any act of hostility unanswered".
On Tuesday, Iran’s Islamic Revolutionary Guard Corps said it shot down an American drone.
At the same time, they claimed to engage another fighter jet and an unmanned aircraft, which it claimed had entered Iranian airspace.
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