WASHINGTON (dpa-AFX) - President Donald Trump has announced that Washington has reached a 'great settlement' that ends the war with Iran.
Iran denied Trump's clam with its foreign ministry saying such reports were 'merely speculation.'
Iranian state media quoted foreign ministry spokesperson Esmaeil Baghaei as saying, 'It has not reached a final conclusion.'
According to IRNA news agency, Baghaei admitted that major part of the draft peace proposals had been finalized, but he pointed out, 'Americans keep changing their positions', which remains the main hurdle to a final draft.
He vowed that Tehran will not compromise on Washington's 'red lines.'
'We just made a great settlement of the war with Iran,' Trump told reporters at the White House on Thursday.
He added that Vice President JD Vance may attend a ceremony to sign the deal in Europe within days.
The final deal would be 'subject to finalization of documents, which should get done, over the next few days, probably have a signing, maybe in Europe.'
Trump also said the Strait of Hormuz would open once the agreement is signed.
Trump said on Truth Social that he has abandoned earlier plan to launch a military operation to seize Kharg Island, which handles a chunk of Iran's crude oil exports.
'Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening. Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others'.
Trump did not name Iran in the list of 11 countries specified in his post.
He added that the U.S. naval blockade on Iran's ports will 'remain in full force and effect until this Transaction is finalized' He said the time and place of the signing will be announced shortly.
Later, addressing a rally to campaign for Georgia Lt. Governor Burt Jones, who is a gubernatorial candidate, Trump said, 'I don't know if you heard, but we ended the war with Iran today. They have agreed never to have a nuclear weapon, something that we insisted on; that was the whole purpose. That was 95 percent of it.'
In the wake of Trump's comments, crude oil prices plunged by more than 4 percent Friday.
Brent crude oil dropped below $86 per barrel, hitting its lowest level since the ceasefire was agreed in April, while the US-traded WTI fell below $84.
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