The United States and Iran may be on the verge of announcing a peace deal, with key sticking points including Iran's nuclear programme and control over the Strait of Hormuz.
US President Donald Trump and Secretary of State Marco Rubio have confirmed progress in talks, with Rubio stating 'good news' is expected soon on the Iran situation.
The peace deal is expected to include a 60-day truce between the US and Iran, as well as the reopening of the Strait of Hormuz, a key passage for 20% of the world's oil and gas shipping.
Iranian officials have confirmed a draft agreement is in place, which guarantees the end of the US' naval blockade on Iranian ports and partially releases Tehran's frozen funds under international sanctions.
However, the nuclear dispute remains a sore point between Tehran and Washington, with Iran rejecting claims it will give up its stockpile of enriched uranium.
Iranian President Masoud Pezeshkian has stated that Tehran is not seeking nuclear weapons and is ready to reassure the world of this.
