After calling off new military strikes on Iran on Thursday, President Donald Trump told reporters a peace deal could be signed by both countries as soon as this weekend.
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Trump has said multiple times in recent weeks that the warring parties have been on the cusp of a deal without anything coming to fruition.
A spokesperson for Iran’s Foreign Ministry said in a live phone call on state television that mediators were active and nothing had been finalized to end the conflict that began Feb. 28 when the U.S. and Israel jointly attacked Iran.
STRAIT OF HORMUZ, IRAN – MAY 16: An Iranian flag flutters in the wind as ships remain anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran. Negotiations between the U.S. and Iran over opening this critical waterway have largely st
Here’s the latest for Friday:
US to abandon Kharg Island
7:08 a.m. ET: President Donald Trump spoke with reporters from the Oval Office Thursday, updating the negotiations with Iran.
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Trump told reporters that Iran’s Kharg Island would be abandoned if the pending deal was signed between the two countries.
When asked if Kharg Island would be off the table, Trump responded, “It would be. If we sign this agreement.”
Kharg Island is Iran’s primary oil export terminal and has been a primary focus of the U.S. pressure campaign against Iran.
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