The US president says a peace agreement has been "largely negotiated," with the "final aspects" still under discussion

US President Donald Trump has said that a peace agreement with Iran has been "largely negotiated" and is now being finalized, signaling a potential breakthrough after nearly three months of war and repeated threats of renewed US strikes.

Trump said he had held what he described as a "very good call" from the Oval Office with leaders and officials from Saudi Arabia, the United Arab Emirates, Qatar, Pakistan, Trkiye, Egypt, Jordan and Bahrain concerning Iran and "all things related to a Memorandum of Understanding pertaining to PEACE."

"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," Trump wrote on Truth Social.

He added that he had separately spoken with Israeli Prime Minister Benjamin Netanyahu and that the call "likewise, went very well."

Trump said the "final aspects and details" of the deal were still being discussed and would be announced shortly. He also claimed that, among other elements of the agreement, the Strait of Hormuz "will be opened."

Iranian media, however, disputed Trump's characterization of the Hormuz arrangement. The semi-official Fars news agency said the waterway would remain "under Iran's management," with Tehran retaining control over routes, timing, passage procedures, and permits. While Iran had reportedly agreed to restore ship traffic to pre-war levels, Fars said this did not mean a return to "free passage," calling Trump's statement "incomplete" and "far from reality."

READ MORE: Iran's insurance, NATO intervention, and cables under threat: What's going on in the Strait of Hormuz?

Trump had repeatedly warned in recent days that the US was prepared to resume attacks if Iran failed to accept a deal to end the war, which began in late February with US and Israeli strikes on Iran.

The two sides have largely refrained from direct exchanges since a fragile ceasefire was established in early April.

The Strait of Hormuz, one of the world's most important energy chokepoints, has been a central issue in the talks. Iran restricted traffic through the waterway during the conflict, while Washington enforced a naval blockade on Iranian ports.

Tehran has previously said the focus of negotiations remained on ending the war, and that "details related to the nuclear issue are not being discussed at this stage." Tehran has insisted that any agreement must preserve its sovereign rights and end what it describes as US "piracy" against Iranian ships.