Iran-US draft deal would release $24B in funds, ensure Lebanon ceasefire: Iranian media
The draft circulating in Iranian state media, which Trump denied on Friday, would grant Tehran sanctions relief and access to billions in frozen funds while limiting final talks to nuclear issues and excluding its missile program and proxies.
Iranian news outlets leaked alleged details on Friday of the proposal being discussed with the United States, including a number of terms favorable to Tehran that contradict recent declarations by the Trump administration and Israel.
President Donald Trump denied the reports, saying the reported terms contradict what Tehran agreed to. In a post on Truth Social, he said that the terms circulated by Iranian media “have NOTHING to do with the terms that were agreed to, in writing.” He called the Iranians “dishonorable people to deal with,” adding that “they better get their act together.”
In a post later on Friday, Iranian Foreign Minister Abbas Araghchi said that a memorandum of understanding between the two sides "has never been closer." He added, "The media should refrain from entering speculation about its content," saying that details will be made public in due time.
In a post on X, Vice President JD Vance rejected "fake information" about a potential deal. "The Iranians are not receiving any cash, and no funds are being released for simply signing a deal or attending a meeting. The deal is structured to ensure that the US and its allies concerns are prioritized, and that if the Islamic Republic of Iran meets its obligations, then economic benefits will flow to them," he said.
What happened: Iran’s semi-official Mehr news agency published what it said are “new details” pertaining to a draft 14-point memorandum of understanding. The terms are as follows:
A permanent and immediate ceasefire on all fronts, including Lebanon
US commitment to non-interference in Iran’s internal affairs and respect for its sovereignty
A complete lifting of the US naval blockade on Iran within 30 days
US commitment to withdraw its forces from around Iran, without specifying where
The reopening of the Strait of Hormuz within 30 days with “Iranian arrangements”
The suspension of sanctions on the sale of oil and related products, as well as full access by Iran to its financial resources.
The need for the US and its allies to present reconstruction plans to Iran worth at least $300 billion
60 days of negotiations to reach a final agreement on nuclear issues and the complete lifting of US sanctions plus UN Security Council and International Atomic Energy Agency resolutions
Iran reiterating its commitment in the non-proliferation treaty to not produce nuclear weapons
US commitment to not to increase its forces in the region nor impose new sanctions during the negotiations
Release of $24 billion in blocked Iranian funds during the 60-day period of final negotiations, with half of the amount being made available to Iran before the negotiations begin
The establishment of a monitoring mechanism to implement the agreement
The final agreement to be approved by a UN Security Council resolution
The final negotiations not to begin before the release of half of Iran's frozen funds, the suspension of Iran's oil sanctions and the lifting of the naval blockade. The final agreement will be made solely on enriched materials and enrichment, the lifting of sanctions and the Iranian economic reconstruction program, without any discussions on Iran's missile program and support for “resistance” groups.
The official Islamic Republic News Agency reported on Friday that until an agreement is signed by Tehran, all texts reported in the media are merely “speculation.” The agency identified the frameworks as:
Nuclear negotiations will take place within 60 days of the agreement being signed and will address "Iran's right to enrich uranium" and the retention of enriched materials.
Iran will not turn over management of the Strait of Hormuz and will simply help normalize traffic there.
There will be a “decisive end” to the war on all fronts.
There will be mechanisms for the release of Iran’s frozen assets and the provision of war compensation.
There will be discussions on the lifting of sanctions during the 60-day negotiations
No topics beside wartime compensation, sanctions relief and the “continuation of Iran’s peaceful nuclear program” will be discussed during the 60-day talks.
Iranian Foreign Ministry spokesperson Esmail Baghaei said late Thursday that “the text has almost been finalized,” though he cautioned the situation could change.
“The problem is that the contradictory positions of the United States have always caused turbulence and disruption in this process,” state media quoted him as saying.
Al-Monitor did not immediately hear back from the White House regarding the terms circulating in Iranian media.
Why it matters: The US and Israel have both said they are seeking limits to Iran’s ballistic missile program and support for regional proxies such as Hezbollah and the Houthis, but the reports on Friday indicate strong Iranian opposition to including either topic in the current negotiations. Iran has consistently demanded the lifting of sanctions and war compensation and has repeatedly called for Lebanon, where Israel and Hezbollah had been engaged in intense fighting beginning March, to be included in a ceasefire. Israel and Lebanon agreed to a separate conditional ceasefire earlier this month.
Trump has said that a deal may be imminent and announced in a Truth Social post on Thursday that he had canceled planned military strikes on Iran after discussions with the Iranian leadership had yielded progress on a deal.
“Discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved,” he said, adding, “Final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt and others.”
Despite reports of daylight between Israeli Prime Minister Benjamin Netanyahu and Trump over a deal with Iran, Netanyahu said on Friday that he and Trump were in “full agreement” that Iran cannot obtain a nuclear weapon.
Trump said in his post that the US blockade on Iran will remain in place until the deal is signed, the time and place of which will be announced “shortly.” Blomberg reported on Friday that the two sides may sign an agreement on the sidelines of a meeting of the G7 leaders in Geneva next week. The G7 meeting runs from Jun. 15 to 17.
Know more: As Al-Monitor’s Elizabeth Hagedorn reported, talks between the sides have stalled for weeks over sticking points including Iran’s enriched uranium stockpile and the unfreezing of Iranian assets.
Earlier in the week, the two sides appeared to be veering back toward war after tit-for-tat strikes between Israel and Iran over the weekend in the first exchange of fire between the countries since the initial ceasefire was announced on April 8. Tensions continued to flare after Trump alleged that Iran had downed a US military helicopter, for which the US retaliated on Wednesday with what it called self-defense strikes.
On Thursday, Trump threatened that the US could take “total control” of Iran’s oil and gas sector and seize its strategic Kharg Island “in the not too distant future.”
This developing story has been updated to include comments by Iranian Foreign Minister Abbas Araghchi and US Vice President JD Vance.
