UAE has agreed to unlock billions of dollars for Iran in a "tactical shift" after weeks of Iranian attacks

Iran’s foreign minister yesterday said that a deal with the United States to end the Middle East war was closer than ever, as a senior US official and key mediator Pakistan both expressed mounting optimism for an elusive agreement.

Draft deal reportedly includes sanctions relief and release of frozen assets 

Remarks come amid ongoing tensions and accusations over negotiations

Iran seeks sanctions relief, release of frozen assets and war reparations

Draft reportedly includes sanctions relief and reopening of Strait of Hormuz

Fears of regional escalation and economic disruption loom large

Trump, earlier, claimed to have reached a 'great settlement' to end the war

Cites high-level negotiations and broad regional approval for halting strikes

US President Donald Trump yesterday said he was calling off strikes on Iran hours after vowing to hit the country “very hard tonight” and flagged the signing of a possible deal with Tehran.

Iranian official warns of 'painful response' if attacked

The United States launched fresh attacks against Iran on Thursday, prompting Tehran to retaliate, as US leaders accused their counterparts of dragging out negotiations for a deal to end the three-month war

Twenty-two countries including the United States and European nations jointly warned Iran to stop attacking people "on our soil"

The military's Central Command announced the strikes were complete about four hours after they began shortly after midnight in Tehran

US President Donald Trump yesterday said Iran had taken too long to negotiate a deal and would now “have to pay the price”, while Tehran said it would reassess diplomatic engagement with Washington after overnight tit-for-tat strikes.

Says because peace talks have failed to make progress, he is getting closer to targeting Iran's power plants and bridges

Residents face water shortages amid temperatures of up to 50°C

Iranian media reported at least two series of explosions along Iran's southern coast near the Strait of Hormuz.

President Donald Trump yesterday vowed to respond after he accused Iran of shooting down a US military helicopter the previous night, hours after he said negotiations to end the Middle East war were in their final stages.

Reuters could not immediately verify the report.