While the proposal seeks a formal conclusion to hostilities, sources indicate it leaves key U.S. demands—including the suspension of Iran’s nuclear programme and the reopening of the Strait of Hormuz—unresolved.

“They want to make a deal. We've had very good talks over the last 24 hours, and it's very possible that we'll make ​a deal,” Trump told reporters in the Oval Office. He later added, “it'll be over quickly.”

Despite Trump’s optimism, Iranian officials have expressed significant doubt.

Ebrahim Rezaei, a spokesperson for the Iranian parliament’s foreign policy and national security committee, described the peace proposal as “more of an American wish-list than a reality.”

An Iranian foreign ministry spokesperson confirmed that Tehran is currently considering the document and will convey an official response shortly.

The proposed agreement is reportedly a one-page memorandum focused on a formal ceasefire.

The one-page memorandum is intended to trigger high-level negotiations focused on unblocking the Strait of Hormuz, lifting U.S. economic sanctions, and implementing specific curbs on Iran’s nuclear programme, according to sources briefed on the mediation.

A senior Pakistani official involved in the mediation noted that while negotiators are hopeful, significant gaps remain.

“Our priority is that they announce a permanent end to war and the rest of the issues could be thrashed out once they get back to direct talks,” the official said on condition of anonymity, as Reuters cited.