Iranian media has published details of a proposed agreement between Tehran and Washington that could see the release of $24 billion in frozen Iranian assets as part of efforts to formally end months of conflict in the Middle East.
According to Iran’s Mehr News Agency, which cited a source close to the country’s negotiating team, the draft memorandum of understanding would provide for the release of the funds during a 60-day period of final negotiations between the two sides. The report said half of the money would be made available to Iran before negotiations officially begin.
The proposed agreement reportedly includes a permanent and immediate cessation of hostilities across multiple fronts, including Lebanon, while negotiations continue.
Iranian state media said the country’s nuclear program would be part of the 60-day talks with the United States. However, Tehran reportedly rejected any provision that would place the Strait of Hormuz under foreign control.
Iran’s official IRNA news agency stated that the draft text contains no commitment by Tehran to surrender management of the strategic waterway or restore conditions that existed before what it described as American and Israeli military aggression.
The reports emerged after US President Donald Trump claimed that an agreement with Iran could be finalized within days. Trump said he had canceled planned military strikes against Iran after discussions reached what he described as the highest levels of Iran’s leadership.
“Time and place of the signing to be announced shortly,” Trump said, adding that the arrangement had been approved by the United States, Israel and regional allies.
Despite Trump’s optimism, Iranian officials urged caution. Foreign Ministry spokesman Esmaeil Baqaei said Tehran had not yet reached a final conclusion on the proposed agreement.
He stated that most of the text had been finalized but accused Washington of introducing new demands and changing its position during the negotiations.
Iranian media also highlighted previous instances in which Trump predicted an imminent deal that ultimately failed to materialize. The Tasnim news agency noted that the US president had made similar claims dozens of times over the past two months.
Israel’s government distanced itself from the reported memorandum. Following a conversation between Prime Minister Benjamin Netanyahu and Trump, Netanyahu’s office said Israel was not a party to the agreement.
According to the Israeli statement, Netanyahu reiterated support for a deal that would remove enriched nuclear material, dismantle enrichment infrastructure, limit missile production and end Iranian support for regional proxy groups.
The developments come months after a conflict that began on February 28 with large-scale US-Israeli strikes on Iran. Although fighting largely paused following an April truce, efforts to secure a permanent settlement have faced repeated setbacks.
Tensions remain high across the region. Iran has maintained restrictions on the Strait of Hormuz, a key route for global energy exports, warning that it will remain closed until further notice. The uncertainty has continued to affect international oil and gas markets.
While diplomatic efforts appear to have gained momentum, significant disagreements remain, leaving the future of any final agreement uncertain.
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