ERBIL, Kurdistan Region of Iraq - Iran and the US have agreed on the content for a peace proposal, mediator Pakistan confirmed on Friday, with US President Donald Trump hinting that a deal could be signed over the weekend.

Pakistani Prime Minister Shehbaz Sharif on Friday confirmed that a final peace proposal text has been agreed upon by Tehran and Washington.

“Setting aside the noise, we can confirm that a final, agreed upon text of the peace deal has been reached and Pakistan is now working closely with both sides to finalize the next steps,” Sharif said on X.

“Peace has never been this close as it is now,” he stated.

The contents of the proposal and the place or time of signing the potential deal have yet to be officially announced.

Earlier in the day, Trump told Axios that a deal may be signed over the weekend or on Monday.

Reuters, citing a “western official” also reported that the deal is to be signed by US Vice President JD Vance and Iranian parliament speaker Mohammad Bagher Ghalibaf, with Geneva being the likely venue.

Iranian state media reported that Pakistani Foreign Minister Ishaq Dar is set to travel to Geneva on Friday night, “to continue advancing the mediation process between the Islamic Republic of Iran and the United States.”

Pakistan has acted as the official mediator between Tehran and Washington during the latest talks.

“Regarding the time and place of the signing of the agreement, no opinion can be given yet, and we must first wait for the final decision to be made internally,” foreign ministry spokesperson Esmail Baghaei said.

Iranian state media had earlier purported seven points of what it called the “main outlines” of the proposal. Some of the main points are contradictory to what the US wants, such as Iran not giving up the management of the Strait of Hormuz and deciding on its future with Oman without US interference.

Trump told Axios that Iran had privately apologized for the state media report of the alleged peace proposal text which he had slammed as “weak and pathetic.”

Iranian Foreign Minister Abbas Araghchi also urged the media to refrain from speculating on the proposal’s content, saying the potential deal “has never been closer.”

According to Vance, the deal is structured to prioritize the concerns of the US and its allies, and that if Iran “meets its obligations, then economic benefits will flow to them and to the entire region.”

The two warring sides reached a ceasefire in April which ended hostilities for the most part, while they kept exchanging proposals to end the war. Tehran would call Washington’s demands excessive while Washington dubbed Tehran’s unacceptable.

Tensions between the US and Iran manifested in renewed violence in the past days despite the ceasefire. Merely some hours before announcing the supposed agreement on Thursday, Trump announced on Truth Social that the US would resume heavy strikes on Iran.