US President Donald Trump on Thursday said a deal to end the conflict with Iran was nearly complete and could be signed as early as this weekend in Europe, hours after he called off military strikes on the Gulf nation following threats to target its oil industry.
Speaking to reporters in the Oval Office, Trump said Vice President J D Vance is expected to attend the signing ceremony, which could take place in Europe over the weekend.
The US president said he had spoken with leaders from several Middle Eastern nations, including Qatar, the UAE, Saudi Arabia, Bahrain, Kuwait, and Pakistan, regarding the latest round of negotiations.
Later, during a tele-rally in support of Georgia Lt Governor Burt Jones, who is contesting for governor, Trump declared that the US had effectively ended the conflict with Iran.
"I don't know if you heard, but we ended the war with Iran today (Thursday), and they have agreed never to have a nuclear weapon, something that we insisted on. That was the whole purpose," Trump said.
Earlier at the Oval Office, Trump suggested financial markets had responded positively to the development and indicated that a formal agreement would be signed soon. He also said the Strait of Hormuz would reopen once the agreement is finalised.
"It's a very strong memorandum of understanding. That's a little conceptual, but it's something that's going to get done," Trump said. "It's a very detailed memorandum of understanding," he said.
Trump further claimed that Iran had committed to permanently abandoning any attempt to acquire nuclear weapons.
"They will not purchase, develop in any way, shape or form a nuclear weapon. They will not have a nuclear weapon," Trump said.
"They've taken a pounding like very few people could take - and they want to make the deal a lot more than I do," Trump said in response to a question on how Iran had come around to agreeing to the deal.
The remarks marked a sharp shift from earlier in the day, when Trump had threatened to hit Iran "VERY HARD" and seize control of Kharg Island, the country’s key oil export hub.
Hours later, he announced that planned attacks had been called off, citing progress in peace negotiations.
Trump made the comments on the proposed Iran deal during an event announcing the restoration of commercial fishing in protected areas of the Pacific Ocean.
Over recent weeks, Trump has repeatedly said Washington and Tehran were close to reaching an agreement, though a formal deal had remained elusive.
(With inputs from PTI)