US President Donald Trump said a peace deal with Iran is close to being agreed, stating that he called off planned air strikes because an agreement was nearing completion and that a time and place for signing would be announced shortly.
Iran, however, offered a different account of the negotiations, with its Foreign Ministry saying that most of the text had already been finalized but that US negotiators had introduced new demands during the process.
Iranian state media reported that the current memorandum of understanding is intended to bring about a complete end to the war on all fronts rather than extend an existing ceasefire.
According to the reports, Washington would commit to obligating Israel to end the war in Lebanon if the draft agreement is signed.
Iranian media also said Tehran had secured guarantees regarding the release of frozen assets through mechanisms linked to the signing of the memorandum and the subsequent negotiation period.
Reports indicated that some frozen Iranian funds would be released immediately after the agreement is signed, with additional funds released gradually.
The reports added that sanctions relief, Iran’s peaceful nuclear program and compensation mechanisms for losses remain unresolved issues that would be addressed during a proposed 60-day negotiation period.
Iranian media further stated that final negotiations would not begin before half of Iran’s frozen assets are released and oil sanctions are suspended.
Iranian military officials and state media emphasized that Tehran would not relinquish control over the Strait of Hormuz as part of any agreement before the war is considered over.
Admiral Habibollah Sayyari said the strait, along with the Persian Gulf and its western approaches, remains under the control of the Islamic Revolutionary Guard Corps Navy.
Iranian state media said the memorandum only addresses the restoration of navigation through the strait after the conflict ends.
The future administration of the waterway would be determined through regional dialogue and joint decision-making between Iran and Oman, according to IRNA.
The agency also reported that Washington would refrain from increasing its military presence in the region or imposing new sanctions while negotiations continue.