WASHINGTON/TEHRAN/ISLAMABAD - US President Donald Trump announced Saturday that a peace agreement with Iran has been "largely negotiated", subject to finalization between the United States, Iran and other relevant countries in the Middle East.

As part of the agreement, the Strait of Hormuz will be opened, Trump said in a post on Truth Social.

Final aspects and details of the deal are being discussed and will be announced shortly, he said.

On Saturday afternoon, Trump spoke by phone with Gulf and other regional leaders to review Iran's latest proposal.

Trump said he also had a separate call with Israeli Prime Minister Benjamin Netanyahu, which, likewise, went very well. 

'A lot closer' to finalizing deal

He also said the US and Iran are "getting a lot closer" to finalizing an agreement between the two countries, CBS News reported.

The latest proposal includes a process to re-open the Strait of Hormuz, the unfreezing of some Iranian assets held in foreign banks, and a continuation of negotiations, according to the CBS report.

Trump also told US news outlet Axios that he might decide on Sunday whether to resume the conflict with Iran following discussions with his advisers.

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"Either we reach a good deal or I'll blow them to a thousand hells," Trump was quoted as saying.

Trump said he would meet later Saturday with his envoy Steve Witkoff and son-in-law Jared Kushner to discuss Iran's latest response. Vice-President JD Vance is also expected to attend.

'Progress made in Iran talks'

Responding to a media query during his India visit on Saturday, US Secretary of State Marco Rubio confirmed that progress has been made in the talks with Iran.

Rubio said that the United States "will have something to say" regarding the talks in the coming days.

The US top diplomat reiterated the US stance that Iran "must not have nuclear weapons", the Strait of Hormuz "be open without tolls", and Iran "turn over their enriched uranium".

Trump's preference is always to solve such problems through a negotiated diplomatic solution, said Rubio, noting that it is what the United States is currently working on.

Iranian Foreign Ministry spokesman Esmaeil Baghaei said Iran and the United States are working to finalize a memorandum of understanding on ending the conflict.

"At this stage, our focus is on ending the imposed war," Baghaei told state-run IRIB news agency, following a visit to Tehran on Friday by a Pakistani delegation that included Army Chief Asim Munir and Interior Minister Mohsin Naqvi.

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"Our intention has been to firstly agree on a MoU consisting of 14 clauses," Baghaei said, noting that "within a period of 30 to 60 days", they would "reach a final agreement".

"We are at the stage of finalizing the MoU. The issues that are being discussed are focused on ending the war (on all fronts, including Lebanon)," he said. "Among the major topics to be addressed in the MoU are the cessation of US maritime attacks, or naval blockade as they themselves call it, and other issues pertaining to the release of Iranian frozen assets."

Iran to excise 'utmost caution' in talks with US

Also on Saturday, Iranian President Masoud Pezeshkian said his country seeks to safeguard national interests and remains highly cautious in negotiations with the United States.

During a meeting with Munir, visiting Pakistan's army chief, Pezeshkian cited Washington's repeated breach of commitments, attacks on Iran amid talks, and targeted killings of its officials as the basis for widespread public mistrust, according to a presidency statement.

Under such circumstances, Iran has pursued negotiations relying on its "brotherly relations" with friendly countries, including Pakistan, "but our main goal is to solely safeguard the Iranian nation's interests through appropriate solutions", Pezeshkian said.

"We merely seek to safeguard our people's legal and legitimate rights, but our history and experience of negotiating with the United States urge us to exercise utmost caution," he said.

Discussions between Munir and the Iranian leadership during his official visit to Iran over the past 24 hours have resulted in encouraging progress towards a final understanding, the Pakistani military said in a statement.

Munir has concluded a short but "highly productive" visit to Iran, during which he held high-level meetings with Iranian leadership, the military's media wing Inter-Services Public Relations (ISPR) said in a statement.

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The meetings were part of ongoing mediation efforts aimed at promoting de-escalation and constructive engagement amid regional tensions, the statement added.

Munir met the Iranian president, parliament speaker, foreign minister and interior minister during the visit, the statement added.

The discussions focused on expediting the consultative process aimed at supporting regional peace and stability and reaching a conclusive agreement, the military statement said.